Kennametal (KMT) Shares Bought by Columbus Circle Investors
Columbus Circle Investors grew its holdings in Kennametal (NYSE:KMT) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 663,922 shares of the industrial products company’s stock after purchasing an additional 72,209 shares during the period. Columbus Circle Investors owned approximately 0.81% of Kennametal worth $26,650,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Kennametal in the first quarter valued at $201,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Kennametal by 41.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 1,463 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Kennametal during the fourth quarter worth $280,000. D.A. Davidson & CO. raised its holdings in shares of Kennametal by 40.0% during the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 2,000 shares in the last quarter. Finally, First Mercantile Trust Co. raised its holdings in shares of Kennametal by 25.7% during the first quarter. First Mercantile Trust Co. now owns 7,271 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 1,488 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.
Kennametal stock opened at $39.73 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.47 and a current ratio of 2.60. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 3.00 and a beta of 2.05. Kennametal has a one year low of $39.10 and a one year high of $39.47.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 30th. Shareholders of record on Tuesday, May 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, May 14th. Kennametal’s payout ratio is 52.63%.
Several analysts recently issued reports on the company. Jefferies Group reiterated a “buy” rating and set a $60.00 price objective on shares of Kennametal in a report on Thursday, January 18th. ValuEngine upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Bank of America increased their price objective on Kennametal from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase lowered Kennametal from an “overweight” rating to a “neutral” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $49.18.
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. It operates through three segments: Industrial, Widia, and Infrastructure.
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