CS Mckee LP Has $13.20 Million Holdings in Kennametal Inc. (KMT)
CS Mckee LP cut its position in shares of Kennametal Inc. (NYSE:KMT) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 327,300 shares of the industrial products company’s stock after selling 5,100 shares during the quarter. CS Mckee LP owned 0.40% of Kennametal worth $13,203,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new stake in Kennametal during the third quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kennametal by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after buying an additional 272 shares in the last quarter. Hartford Investment Management Co. purchased a new stake in Kennametal during the third quarter valued at about $202,000. Trexquant Investment LP purchased a new stake in shares of Kennametal in the third quarter worth approximately $207,000. Finally, World Asset Management Inc purchased a new stake in shares of Kennametal in the third quarter worth approximately $207,000. 98.67% of the stock is owned by institutional investors.
In other Kennametal news, Director Steven H. Wunning sold 4,445 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $46.63, for a total transaction of $207,270.35. Following the transaction, the director now owns 29,693 shares in the company, valued at $1,384,584.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy R. Mclevish sold 7,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $329,000.00. Following the transaction, the director now owns 78,904 shares in the company, valued at approximately $3,708,488. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,570 shares of company stock worth $1,856,345. Insiders own 2.00% of the company’s stock.
Shares of Kennametal Inc. (KMT) traded up $0.39 on Tuesday, reaching $45.96. 1,509,800 shares of the company traded hands, compared to its average volume of 903,017. The company has a market capitalization of $3,720.00, a price-to-earnings ratio of 23.37, a PEG ratio of 2.16 and a beta of 1.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. Kennametal Inc. has a 52-week low of $31.12 and a 52-week high of $48.89.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.17. The firm had revenue of $542.45 million for the quarter, compared to analyst estimates of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. research analysts expect that Kennametal Inc. will post 2.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, November 13th. Kennametal’s payout ratio is presently 59.26%.
A number of analysts have recently issued reports on the stock. Jefferies Group increased their price target on shares of Kennametal from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Credit Suisse Group increased their price target on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. TheStreet raised shares of Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. ValuEngine lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $45.00 price target on shares of Kennametal in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $45.23.
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Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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