MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Holdings in Kennametal Inc. (NYSE:KMT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kennametal Inc. (NYSE:KMT) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,294 shares of the industrial products company’s stock after acquiring an additional 934 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Kennametal worth $1,064,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after buying an additional 1,444 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Kennametal by 801.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 2,181 shares in the last quarter. KBC Group NV lifted its position 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 acquiring an additional 1,122 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Kennametal by 10.5% during the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 898 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KMT. Wall Street Zen raised Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Morgan Stanley upped their target price on Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Finally, Barclays raised their price target on Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Kennametal presently has a consensus rating of “Hold” and an average price target of $25.80.

Kennametal Trading Down 1.2%

Kennametal stock opened at $21.03 on Monday. The stock has a 50-day moving average price of $20.25 and a 200 day moving average price of $23.14. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.80%. The ex-dividend date is Tuesday, May 13th. Kennametal’s dividend payout ratio (DPR) is 57.55%.

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.