Fmr LLC Purchases 13,221 Shares of Kennametal Inc. (NYSE:KMT)

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

A number of other institutional investors have also recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. boosted its stake in shares of Kennametal by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock worth $117,175,000 after acquiring an additional 67,327 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Kennametal by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock worth $110,248,000 after purchasing an additional 100,905 shares during the last quarter. Victory Capital Management Inc. boosted its position in Kennametal by 1.6% during the second quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock worth $77,640,000 after purchasing an additional 50,622 shares during the period. Brandes Investment Partners LP grew its holdings in Kennametal by 35.1% during 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. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Kennametal by 1.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock valued at $48,292,000 after purchasing an additional 20,634 shares during the period.

Insider Activity

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction dated 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 directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction that occurred 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 of the company’s stock, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is owned by company insiders.

Kennametal Stock Down 1.7 %

NYSE KMT opened at $24.98 on Friday. Kennametal Inc. has a twelve month low of $22.50 and a twelve month high of $32.18. The stock has a market cap of $1.94 billion, a PE ratio of 19.52, a PEG ratio of 2.29 and a beta of 1.65. The firm has a 50-day simple moving average of $27.23 and a 200 day simple moving average of $25.60. 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 announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, research analysts forecast that Kennametal Inc. will post 1.44 EPS for the current year.

Kennametal Dividend Announcement

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

Analysts Set New Price Targets

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

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.