Algert Global LLC bought a new stake in Kennametal Inc. (NYSE:KMT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 37,220 shares of the industrial products company’s stock, valued at approximately $1,621,000.

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of Kennametal by 1.3% during the second quarter. Legal & General Group Plc now owns 103,427 shares of the industrial products company’s stock valued at $3,713,000 after acquiring an additional 1,364 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Kennametal by 21.0% during the second quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 1,471 shares during the last quarter. Arizona State Retirement System increased its position in shares of Kennametal by 2.8% during the second quarter. Arizona State Retirement System now owns 56,673 shares of the industrial products company’s stock valued at $2,035,000 after acquiring an additional 1,534 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Kennametal by 5.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 31,812 shares of the industrial products company’s stock valued at $1,142,000 after acquiring an additional 1,587 shares during the last quarter. Finally, Boothe Investment Group Inc. increased its position in shares of Kennametal by 2.5% during the third quarter. Boothe Investment Group Inc. now owns 72,181 shares of the industrial products company’s stock valued at $3,144,000 after acquiring an additional 1,742 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

In other Kennametal news, VP Judith L. Bacchus sold 5,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $42.70, for a total value of $213,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michelle R. Keating sold 988 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $42.20, for a total value of $41,693.60. Following the completion of the sale, the vice president now directly owns 14,676 shares of the company’s stock, valued at $619,327.20. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

NYSE:KMT opened at $36.96 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.55 and a quick ratio of 1.26. Kennametal Inc. has a 1 year low of $32.91 and a 1 year high of $52.52. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 2.53 and a beta of 2.16.

Kennametal (NYSE:KMT) last released its earnings results on Monday, November 5th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Kennametal had a return on equity of 19.03% and a net margin of 9.03%. The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $590.22 million. During the same period last year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Kennametal Inc. will post 3.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Shareholders of record on Tuesday, November 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, November 9th. Kennametal’s dividend payout ratio is currently 30.19%.

A number of analysts recently commented on KMT shares. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Tuesday, November 13th. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. Goldman Sachs Group began coverage on Kennametal in a research report on Tuesday, October 2nd. They set a “buy” rating and a $53.00 price target for the company. Longbow Research raised Kennametal from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Monday, September 10th. Finally, Bank of America decreased their target price on Kennametal from $40.00 to $35.00 and set an “underperform” rating for the company in a research report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.58.

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Kennametal Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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