Charles Schwab Investment Management Inc. Boosts Stock Position in Kennametal Inc. (NYSE:KMT)

Charles Schwab Investment Management Inc. lifted its position in Kennametal Inc. (NYSE:KMT) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,479,599 shares of the industrial products company’s stock after purchasing an additional 56,104 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.90% of Kennametal worth $35,540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KMT. GAMMA Investing LLC lifted its stake in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares during the last quarter. Inspire Investing LLC raised its position in Kennametal by 3.8% during the 4th quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 672 shares during the last quarter. Blue Trust Inc. raised its position in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares during the last quarter. KBC Group NV raised its position in Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Kennametal during the 3rd quarter valued at approximately $30,000.

Kennametal Stock Performance

Shares of KMT opened at $21.40 on Monday. The business’s fifty day simple moving average is $22.93 and its two-hundred day simple moving average is $25.07. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 12 month low of $20.50 and a 12 month high of $32.18. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 3.69 and a beta of 1.69.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Research analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.74%. Kennametal’s payout ratio is 65.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays set a $25.00 price target on Kennametal and gave the company an “equal weight” rating in a research report on Monday, March 10th. Loop Capital upped their target price on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Morgan Stanley reduced their target price on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Finally, Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $32.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Kennametal currently has a consensus rating of “Hold” and an average target price of $26.60.

Insider Activity

In related news, CEO Sanjay Chowbey bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average cost of $21.75 per share, with a total value of $217,500.00. Following the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.41% of the company’s stock.

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.