Barclays PLC Raises Stock Holdings in Kennametal Inc. (NYSE:KMT)

Barclays PLC lifted its holdings in Kennametal Inc. (NYSE:KMT) by 23.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 99,191 shares of the industrial products company’s stock after purchasing an additional 18,883 shares during the period. Barclays PLC’s holdings in Kennametal were worth $2,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Kennametal in the second quarter worth approximately $940,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Kennametal in the second quarter worth approximately $90,000. Victory Capital Management Inc. raised its holdings in shares of Kennametal by 1.3% in the first quarter. Victory Capital Management Inc. now owns 3,288,262 shares of the industrial products company’s stock worth $90,690,000 after buying an additional 41,174 shares during the period. Inspire Investing LLC raised its holdings in shares of Kennametal by 11.6% in the second quarter. Inspire Investing LLC now owns 11,040 shares of the industrial products company’s stock worth $313,000 after buying an additional 1,146 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Kennametal in the first quarter worth approximately $216,000.

Wall Street Analysts Forecast Growth

KMT has been the topic of several research analyst reports. Barclays dropped their price objective on Kennametal from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Bank of America dropped their price objective on Kennametal from $28.00 to $25.00 in a research note on Wednesday, October 11th. StockNews.com initiated coverage on Kennametal in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. The Goldman Sachs Group dropped their price objective on Kennametal from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Kennametal from $30.00 to $26.00 and set an “underweight” rating on the stock in a research note on Monday, October 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Kennametal currently has a consensus rating of “Hold” and a consensus target price of $25.93.

Kennametal Stock Up 1.2 %

Shares of NYSE KMT opened at $22.82 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.05 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.82 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.87. The stock’s fifty day simple moving average is $24.26 and its two-hundred day simple moving average is $26.33. Kennametal Inc. has a 12-month low of $22.08 and a 12-month high of $30.60.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The business had revenue of $492.50 million for the quarter, compared to analysts’ expectations of $503.60 million. Kennametal had a return on equity of 9.85% and a net margin of 5.80%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. As a group, analysts expect that Kennametal Inc. will post 1.77 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.51%. Kennametal’s payout ratio is 54.05%.

Insider Transactions at Kennametal

In other news, Director William J. Harvey sold 1,215 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $25.50, for a total value of $30,982.50. Following the completion of the sale, the director now owns 34,431 shares of the company’s stock, valued at approximately $877,990.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.61% of the company’s stock.

Kennametal Company Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.