Comerica Bank Sells 1,002 Shares of Kennametal Inc. $KMT

Comerica Bank cut its position in Kennametal Inc. (NYSE:KMT) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,377 shares of the industrial products company’s stock after selling 1,002 shares during the quarter. Comerica Bank owned 0.05% of Kennametal worth $839,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Curat Global LLC bought a new position in Kennametal in the first quarter valued at about $35,000. Parallel Advisors LLC raised its position in Kennametal by 107.6% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 1,015 shares during the last quarter. US Bancorp DE raised its position in Kennametal by 93.4% in the first quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,036 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Kennametal in the first quarter valued at about $52,000. Finally, Bayforest Capital Ltd bought a new position in Kennametal in the first quarter valued at about $64,000.

Analyst Ratings Changes

KMT has been the subject of several research reports. Wall Street Zen upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Morgan Stanley increased their price target on Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. UBS Group raised Kennametal from a “sell” rating to a “neutral” rating and increased their price target for the company from $19.00 to $21.00 in a research note on Friday, August 15th. Zacks Research raised Kennametal to a “strong sell” rating in a research note on Monday, August 11th. Finally, Loop Capital reissued a “hold” rating and issued a $24.00 price target (up previously from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Five analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $24.00.

Kennametal Trading Up 0.6%

NYSE KMT opened at $21.96 on Friday. The business has a 50 day simple moving average of $22.99 and a 200 day simple moving average of $21.72. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The stock has a market capitalization of $1.67 billion, a P/E ratio of 18.30, a P/E/G ratio of 3.86 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The business had revenue of $516.45 million for the quarter, compared to analyst estimates of $527.52 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. Research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.80 annualized dividend and a yield of 3.6%. Kennametal’s dividend payout ratio (DPR) is currently 66.67%.

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.