Wells Fargo & Company MN increased its stake in shares of Kennametal Inc. (NYSE:KMT) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,619 shares of the industrial products company’s stock after purchasing an additional 8,112 shares during the quarter. Wells Fargo & Company MN’s holdings in Kennametal were worth $3,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Kennametal by 18.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after buying an additional 1,263,163 shares during the period. State Street Corp grew its holdings in Kennametal by 4.4% in the 2nd quarter. State Street Corp now owns 2,653,399 shares of the industrial products company’s stock valued at $99,287,000 after buying an additional 112,547 shares during the period. American Century Companies Inc. grew its holdings in Kennametal by 39.4% in the 3rd quarter. American Century Companies Inc. now owns 2,382,709 shares of the industrial products company’s stock valued at $96,118,000 after buying an additional 673,230 shares during the period. Janus Henderson Group PLC purchased a new stake in Kennametal in the 2nd quarter valued at about $76,161,000. Finally, Alliancebernstein L.P. grew its holdings in Kennametal by 48.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock valued at $57,758,000 after buying an additional 501,090 shares during the period. Institutional investors own 98.59% of the company’s stock.

KMT has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on Kennametal from $45.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday, December 13th. Credit Suisse Group lifted their price target on Kennametal from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, October 4th. ValuEngine cut Kennametal from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Jefferies Group restated a “buy” rating and issued a $50.00 price target on shares of Kennametal in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Kennametal has a consensus rating of “Hold” and a consensus price target of $45.86.

Shares of Kennametal Inc. (KMT) opened at $50.29 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63. Kennametal Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $51.07. The stock has a market capitalization of $4,070.00, a PE ratio of 37.25, a PEG ratio of 2.37 and a beta of 1.98.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business had revenue of $542.45 million during the quarter, compared to analysts’ expectations of $516.80 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. research analysts expect that Kennametal Inc. will post 2.54 earnings per share for the current fiscal year.

In related news, Director Timothy R. Mclevish sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the transaction, the director now directly owns 66,904 shares of the company’s stock, valued at approximately $3,211,392. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven H. Wunning sold 4,445 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $46.63, for a total value of $207,270.35. Following the transaction, the director now directly owns 29,693 shares in the company, valued at $1,384,584.59. The disclosure for this sale can be found here. Insiders have sold a total of 59,570 shares of company stock worth $2,816,345 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

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Kennametal Profile

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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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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