Royce & Associates LP raised its holdings in shares of Kennametal Inc. (NYSE:KMT) by 35.8% in the 1st quarter, Holdings Channel reports. The firm owned 217,400 shares of the industrial products company’s stock after buying an additional 57,300 shares during the quarter. Royce & Associates LP’s holdings in Kennametal were worth $7,989,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Manchester Capital Management LLC purchased a new stake in shares of Kennametal in the first quarter valued at $29,000. Pearl River Capital LLC purchased a new stake in shares of Kennametal in the fourth quarter valued at $30,000. Oregon Public Employees Retirement Fund raised its stake in shares of Kennametal by 3,277.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,087,990 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,055,775 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Kennametal in the fourth quarter valued at $44,000. Finally, First Mercantile Trust Co. purchased a new stake in shares of Kennametal in the first quarter valued at $53,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Several equities research analysts have recently weighed in on KMT shares. ValuEngine raised shares of Kennametal from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Zacks Investment Research downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. KeyCorp reduced their target price on shares of Kennametal from $52.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Finally, Barclays raised shares of Kennametal from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $38.00 to $44.00 in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Kennametal presently has an average rating of “Hold” and an average target price of $46.00.

Shares of KMT opened at $30.75 on Friday. Kennametal Inc. has a twelve month low of $30.32 and a twelve month high of $45.10. The firm has a market capitalization of $2.60 billion, a PE ratio of 11.60, a PEG ratio of 1.24 and a beta of 2.09. The company has a current ratio of 2.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.02). The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $626.27 million. Kennametal had a return on equity of 19.66% and a net margin of 10.28%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. On average, equities research analysts predict that Kennametal Inc. will post 3.06 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Tuesday, May 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, May 13th. Kennametal’s dividend payout ratio is presently 30.19%.

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About Kennametal

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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