Invesco Ltd. Purchases 16,926 Shares of Kennametal Inc. (NYSE:KMT)

Invesco Ltd. boosted its holdings in shares of Kennametal Inc. (NYSE:KMT) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 426,083 shares of the industrial products company’s stock after acquiring an additional 16,926 shares during the quarter. Invesco Ltd. owned approximately 0.55% of Kennametal worth $10,235,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KMT. Wilmington Savings Fund Society FSB bought a new position in shares of Kennametal during the 3rd quarter valued at $30,000. Blue Trust Inc. raised its holdings in Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after buying an additional 716 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after buying an additional 459 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 1,444 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 1,122 shares during the last quarter.

Kennametal Stock Up 2.6 %

KMT opened at $19.06 on Wednesday. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a market capitalization of $1.47 billion, a P/E ratio of 15.62, a P/E/G ratio of 3.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The firm’s fifty day moving average price is $20.88 and its two-hundred day moving average price is $24.00.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. On average, analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 annualized dividend and a yield of 4.20%. Kennametal’s dividend payout ratio (DPR) is presently 65.57%.

Analyst Upgrades and Downgrades

Several brokerages have commented on KMT. StockNews.com downgraded Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Barclays cut their target price on shares of Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley lowered their price target on Kennametal from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.20.

Insider Buying and Selling

In other Kennametal news, CEO Sanjay Chowbey bought 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The stock was bought at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.41% of the stock is currently owned by company insiders.

Kennametal 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.