Fmr LLC Has $429,000 Stock Holdings in Kennametal Inc. (NYSE:KMT)

Fmr LLC boosted its position in Kennametal Inc. (NYSE:KMT) by 395.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,561 shares of the industrial products company’s stock after acquiring an additional 13,221 shares during the period. Fmr LLC’s holdings in Kennametal were worth $429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KMT. Brandes Investment Partners LP increased its holdings in Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after purchasing an additional 606,477 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Kennametal by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,903,714 shares of the industrial products company’s stock valued at $44,813,000 after acquiring an additional 321,876 shares during the last quarter. Interval Partners LP acquired a new stake in shares of Kennametal in the 2nd quarter valued at approximately $5,598,000. International Assets Investment Management LLC boosted its stake in Kennametal by 1,235.5% during the 3rd quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company’s stock worth $3,284,000 after acquiring an additional 117,162 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Kennametal by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock valued at $110,248,000 after purchasing an additional 100,905 shares during the period.

Insider Activity at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the sale, the vice president now owns 1,642 shares of the company’s stock, valued at $48,192.70. This trade represents a 51.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Franklin Cardenas sold 20,470 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the transaction, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $32.00 in a report on Friday, December 6th. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital increased their price objective on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research note on Friday, October 18th. Finally, Morgan Stanley raised their price target on shares of Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Kennametal currently has a consensus rating of “Hold” and an average target price of $26.83.

Kennametal Stock Down 1.7 %

KMT stock opened at $24.98 on Friday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 2.29 and a beta of 1.65. Kennametal Inc. has a twelve month low of $22.50 and a twelve month high of $32.18. The business has a 50 day moving average price of $27.23 and a two-hundred day moving average price of $25.60. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The business had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. Analysts anticipate that Kennametal Inc. will post 1.44 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.20 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.20%. Kennametal’s payout ratio is 62.50%.

About Kennametal

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.