Royce & Associates LP Grows Holdings in Kennametal Inc. (KMT)
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.
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%.
ILLEGAL ACTIVITY WARNING: “Royce & Associates LP Grows Holdings in Kennametal Inc. (KMT)” was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://www.watchlistnews.com/royce-associates-lp-grows-holdings-in-kennametal-inc-kmt/3029359.html.
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.
Want to see what other hedge funds are holding KMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kennametal Inc. (NYSE:KMT).
Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.