Kennametal Inc. (NYSE:KMT) Position Lifted by KBC Group NV

KBC Group NV raised its stake in shares of Kennametal Inc. (NYSE:KMT) by 50.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,351 shares of the industrial products company’s stock after acquiring an additional 1,122 shares during the quarter. KBC Group NV’s holdings in Kennametal were worth $80,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Kennametal by 45.9% during 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. Covestor Ltd boosted its stake in Kennametal by 14.4% during the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 472 shares during the last quarter. Inspire Investing LLC boosted its stake 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 acquiring an additional 672 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,008 shares during the last quarter.

Insider Transactions at Kennametal

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the transaction, the vice president now directly owns 39,581 shares in the company, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP John Wayne Witt sold 1,765 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KMT. Barclays reduced their price target on shares of Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Loop Capital raised their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 19th. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. 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 report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.40.

Kennametal Stock Up 1.3 %

Kennametal stock opened at $22.26 on Monday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.57 and a beta of 1.66. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $24.84 and its two-hundred day moving average price is $25.61. Kennametal Inc. has a 52 week low of $20.50 and a 52 week high of $32.18.

Kennametal (NYSE:KMT) last released 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%. On average, analysts expect that Kennametal Inc. will post 1.18 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.59%. Kennametal’s dividend payout ratio is currently 65.57%.

Kennametal Company 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.