South Dakota Investment Council Has $2.88 Million Holdings in Kennametal Inc. (KMT)
South Dakota Investment Council decreased its position in shares of Kennametal Inc. (NYSE:KMT) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,300 shares of the industrial products company’s stock after selling 2,600 shares during the period. South Dakota Investment Council owned approximately 0.09% of Kennametal worth $2,876,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of KMT. Janus Henderson Group PLC bought a new position in Kennametal during the second quarter valued at $76,161,000. Vanguard Group Inc. grew its holdings in shares of Kennametal by 18.0% in the second quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock worth $310,219,000 after purchasing an additional 1,263,163 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Kennametal by 69.6% in the second quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock worth $63,969,000 after purchasing an additional 701,783 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Kennametal by 48.1% in the second quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock worth $57,758,000 after purchasing an additional 501,090 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Kennametal by 131.7% in the second quarter. Goldman Sachs Group Inc. now owns 841,647 shares of the industrial products company’s stock worth $31,494,000 after purchasing an additional 478,446 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.
In related news, VP Robert J. Clemens sold 10,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $46.82, for a total value of $468,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven H. Wunning sold 4,445 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $46.63, for a total transaction of $207,270.35. Following the completion of the sale, the director now directly owns 29,693 shares of the company’s stock, valued at $1,384,584.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,015 shares of company stock valued at $695,563. 2.00% of the stock is owned by insiders.
A number of research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, August 4th. BMO Capital Markets restated a “hold” rating and issued a $45.00 price target on shares of Kennametal in a report on Wednesday, August 23rd. TheStreet upgraded shares of Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Jefferies Group LLC restated a “buy” rating and issued a $50.00 price target on shares of Kennametal in a report on Thursday, September 21st. Finally, Credit Suisse Group upped their price target on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.23.
Shares of Kennametal Inc. (KMT) opened at $44.63 on Friday. Kennametal Inc. has a one year low of $31.12 and a one year high of $48.89. The firm has a market cap of $3,617.17, a PE ratio of 22.89, a P/E/G ratio of 2.11 and a beta of 1.96. The company has a quick ratio of 1.41, a current ratio of 2.71 and a debt-to-equity ratio of 0.63.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.17. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The company had revenue of $542.45 million during the quarter, compared to analyst estimates of $516.80 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. analysts anticipate that Kennametal Inc. will post 2.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Monday, November 13th. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.
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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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