Kennametal Inc. (NYSE:KMT) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC lifted its holdings in Kennametal Inc. (NYSE:KMTFree Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,000 shares of the industrial products company’s stock after acquiring an additional 5,000 shares during the period. Gabelli Funds LLC owned approximately 0.17% of Kennametal worth $3,482,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Burgundy Asset Management Ltd. increased its position in shares of Kennametal by 3.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,852,273 shares of the industrial products company’s stock worth $125,140,000 after acquiring an additional 173,023 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in Kennametal by 808.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 75,207 shares of the industrial products company’s stock valued at $1,940,000 after purchasing an additional 66,927 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in Kennametal by 141,050.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,646 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 5,642 shares in the last quarter. Olympiad Research LP grew its holdings in Kennametal by 62.1% during the 4th quarter. Olympiad Research LP now owns 17,132 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 6,566 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Kennametal by 188.0% during the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock valued at $2,167,000 after purchasing an additional 54,882 shares in the last quarter.

Kennametal Price Performance

Shares of KMT stock opened at $24.54 on Friday. The firm has a market cap of $1.93 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.47 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.42 and a quick ratio of 1.09. Kennametal Inc. has a 1-year low of $22.08 and a 1-year high of $30.60. The firm has a fifty day moving average of $24.79 and a two-hundred day moving average of $24.71.

Kennametal (NYSE:KMTGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $515.80 million for the quarter, compared to analyst estimates of $518.50 million. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. Kennametal’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 earnings per share. As a group, research analysts anticipate that Kennametal Inc. will post 1.47 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.26%. The ex-dividend date was Monday, May 13th. Kennametal’s dividend payout ratio is currently 59.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Loop Capital raised their price target on shares of Kennametal from $23.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, May 23rd. Barclays raised their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Finally, StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.17.

Get Our Latest Stock Analysis on Kennametal

About Kennametal

(Free Report)

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.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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