Kennametal Inc. (NYSE:KMT) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in Kennametal Inc. (NYSE:KMT) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,316 shares of the industrial products company’s stock after acquiring an additional 7,377 shares during the quarter. Wells Fargo & Company MN owned approximately 0.08% of Kennametal worth $1,401,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new stake in Kennametal during the third quarter valued at approximately $30,000. Blue Trust Inc. raised its stake 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 raised its stake in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after buying an additional 459 shares in the last quarter. Headlands Technologies LLC raised its stake in Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after buying an additional 1,444 shares in the last quarter. Finally, KBC Group NV raised its stake in Kennametal by 50.3% during the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock valued at $80,000 after buying an additional 1,122 shares in the last quarter.

Wall Street Analysts Forecast Growth

KMT has been the topic of several research reports. Barclays cut their price objective on Kennametal from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Finally, Morgan Stanley lowered their target price on Kennametal from $24.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.20.

Kennametal Stock Down 1.4 %

NYSE:KMT opened at $19.42 on Monday. The firm has a market capitalization of $1.50 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. The stock has a 50 day moving average of $20.69 and a 200-day moving average of $23.88. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47.

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 analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. Analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal’s dividend payout ratio (DPR) is 65.57%.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey bought 10,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was purchased at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.41% 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.