Cwm LLC Boosts Stock Position in Kennametal Inc. (NYSE:KMT)

Cwm LLC raised its position in Kennametal Inc. (NYSE:KMT) by 46.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,049 shares of the industrial products company’s stock after acquiring an additional 970 shares during the quarter. Cwm LLC’s holdings in Kennametal were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of KMT. International Assets Investment Management LLC purchased a new stake in shares of Kennametal during the fourth quarter worth $602,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kennametal by 4.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,768 shares of the industrial products company’s stock worth $948,000 after purchasing an additional 1,437 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Kennametal in the 4th quarter valued at about $1,026,000. Federated Hermes Inc. boosted its stake in shares of Kennametal by 51.9% in the 4th quarter. Federated Hermes Inc. now owns 28,490 shares of the industrial products company’s stock valued at $735,000 after buying an additional 9,740 shares during the period. Finally, Signaturefd LLC grew its position in shares of Kennametal by 119.6% during the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after buying an additional 603 shares in the last quarter.

Insider Buying and Selling at Kennametal

In related news, CEO Sanjay Chowbey purchased 5,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $24.28 per share, with a total value of $121,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 49,270 shares in the company, valued at approximately $1,196,275.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Barclays raised their target price on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Finally, Loop Capital cut their price target on Kennametal from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.83.

Kennametal Trading Up 0.6 %

Shares of Kennametal stock opened at $25.26 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $24.20 and a 200-day simple moving average of $24.52. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.37 and a beta of 1.66. Kennametal Inc. has a 12-month low of $22.08 and a 12-month high of $27.05.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The company had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. During the same quarter last year, the company posted $0.51 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts forecast that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.17%. Kennametal’s payout ratio is 59.26%.

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.