Kennametal Inc. (KMT) Holdings Lifted by Eagle Asset Management Inc.

Eagle Asset Management Inc. grew its holdings in shares of Kennametal Inc. (NYSE:KMT) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 331,220 shares of the industrial products company’s stock after purchasing an additional 19,831 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.41% of Kennametal worth $16,034,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of Kennametal by 39.4% during the 3rd quarter. American Century Companies Inc. now owns 2,382,709 shares of the industrial products company’s stock worth $96,118,000 after purchasing an additional 673,230 shares during the period. Legal & General Group Plc lifted its stake in shares of Kennametal by 6.3% during the 3rd quarter. Legal & General Group Plc now owns 117,236 shares of the industrial products company’s stock worth $4,727,000 after purchasing an additional 6,945 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Kennametal during the 2nd quarter worth $435,000. Macquarie Group Ltd. purchased a new position in shares of Kennametal during the 2nd quarter worth $1,437,000. Finally, Voya Investment Management LLC lifted its stake in shares of Kennametal by 28.1% during the 2nd quarter. Voya Investment Management LLC now owns 35,940 shares of the industrial products company’s stock worth $1,345,000 after purchasing an additional 7,874 shares during the period. 98.70% of the stock is currently owned by institutional investors.

In related news, VP Judith L. Bacchus sold 18,125 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $47.00, for a total value of $851,875.00. Following the completion of the sale, the vice president now directly owns 38,528 shares in the company, valued at approximately $1,810,816. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy R. Mclevish sold 7,000 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $329,000.00. Following the completion of the sale, the director now owns 78,904 shares of the company’s stock, valued at $3,708,488. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,125 shares of company stock valued at $2,140,875. 2.00% of the stock is owned by insiders.

A number of research analysts have weighed in on the company. ValuEngine lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Barrington Research restated an “outperform” rating and set a $53.00 price objective on shares of Kennametal in a report on Thursday, February 8th. Barclays began coverage on Kennametal in a report on Thursday, February 15th. They set an “equal weight” rating and a $47.00 price objective for the company. Stifel Nicolaus upped their price objective on Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a report on Sunday, February 4th. Finally, JPMorgan Chase & Co. downgraded Kennametal from an “overweight” rating to a “neutral” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.95.

Shares of Kennametal Inc. (KMT) opened at $44.25 on Tuesday. The company has a market capitalization of $3,609.62, a price-to-earnings ratio of 19.84, a PEG ratio of 2.07 and a beta of 1.95. The company has a current ratio of 2.77, a quick ratio of 1.52 and a debt-to-equity ratio of 0.60. Kennametal Inc. has a twelve month low of $32.23 and a twelve month high of $52.52.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Kennametal had a net margin of 6.54% and a return on equity of 17.09%. The company had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. research analysts predict that Kennametal Inc. will post 2.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be issued a $0.20 dividend. The ex-dividend date is Monday, February 12th. This represents a $0.80 annualized dividend and a yield of 1.81%. Kennametal’s dividend payout ratio is currently 45.45%.

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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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