Columbus Circle Investors grew its holdings in Kennametal (NYSE:KMT) by 12.2% during the 1st quarter, Holdings Channel reports. The firm owned 663,922 shares of the industrial products company’s stock after acquiring an additional 72,209 shares during the quarter. Columbus Circle Investors’ holdings in Kennametal were worth $26,650,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. First Mercantile Trust Co. grew its position in shares of Kennametal by 25.7% in the first quarter. First Mercantile Trust Co. now owns 7,271 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 1,488 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Kennametal in the first quarter valued at about $201,000. Schwab Charles Investment Management Inc. grew its position in shares of Kennametal by 7.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 677,695 shares of the industrial products company’s stock valued at $27,217,000 after purchasing an additional 44,643 shares during the last quarter. Chicago Equity Partners LLC grew its position in shares of Kennametal by 3.6% in the first quarter. Chicago Equity Partners LLC now owns 130,120 shares of the industrial products company’s stock valued at $5,226,000 after purchasing an additional 4,470 shares during the last quarter. Finally, State of Wisconsin Investment Board grew its position in shares of Kennametal by 17.5% in the first quarter. State of Wisconsin Investment Board now owns 188,000 shares of the industrial products company’s stock valued at $7,550,000 after purchasing an additional 28,000 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.
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Kennametal opened at $39.73 on Friday, according to Marketbeat. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.60 and a quick ratio of 1.47. Kennametal has a twelve month low of $39.10 and a twelve month high of $39.47. The stock has a market capitalization of $3.18 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.00 and a beta of 2.05.
Kennametal (NYSE:KMT) last released its earnings results on Wednesday, May 2nd. The industrial products company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.02). Kennametal had a net margin of 6.83% and a return on equity of 17.01%. The company had revenue of $607.94 million during the quarter, compared to the consensus estimate of $601.10 million. During the same quarter in the previous year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. sell-side analysts anticipate that Kennametal will post 2.6 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 30th. Investors of record on Tuesday, May 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, May 14th. Kennametal’s payout ratio is presently 52.63%.
Several brokerages have recently issued reports on KMT. Bank of America raised their price target on Kennametal from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Wells Fargo reaffirmed an “outperform” rating and issued a $48.00 price target (down from $53.00) on shares of Kennametal in a research report on Thursday, April 19th. They noted that the move was a valuation call. Barrington Research reaffirmed a “buy” rating and issued a $53.00 price target on shares of Kennametal in a research report on Tuesday, May 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $46.00 price target on shares of Kennametal in a research report on Wednesday, April 18th. Finally, Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Kennametal presently has an average rating of “Hold” and an average price target of $49.18.
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.
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