Natixis Advisors LLC Boosts Position in Kennametal Inc. (NYSE:KMT)

Natixis Advisors LLC boosted its holdings in shares of Kennametal Inc. (NYSE:KMT) by 20.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,158 shares of the industrial products company’s stock after buying an additional 2,415 shares during the quarter. Natixis Advisors LLC’s holdings in Kennametal were worth $367,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP raised its position in Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after buying an additional 704 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Kennametal during the 2nd quarter worth approximately $28,000. Quest Partners LLC acquired a new stake in shares of Kennametal during the 2nd quarter worth approximately $44,000. Signaturefd LLC grew its stake in shares of Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,008 shares during the period. Finally, CWM LLC grew its stake in shares of Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 970 shares during the period.

Insiders Place Their Bets

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the sale, the vice president now owns 1,642 shares of the company’s stock, valued at $48,192.70. The trade was a 51.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Kennametal Price Performance

Kennametal stock opened at $28.48 on Friday. The company’s fifty day moving average price is $26.67 and its 200 day moving average price is $25.42. Kennametal Inc. has a 1 year low of $22.50 and a 1 year high of $32.18. The stock has a market capitalization of $2.21 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 annualized dividend and a yield of 2.81%. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a research note on Friday, October 18th. Finally, Loop Capital lifted their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, Kennametal has a consensus rating of “Hold” and a consensus price target of $25.00.

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.