Nationwide Fund Advisors raised its holdings in shares of Kennametal Inc. (NYSE:KMT) by 27.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 240,796 shares of the industrial products company’s stock after purchasing an additional 52,342 shares during the period. Nationwide Fund Advisors owned approximately 0.30% of Kennametal worth $9,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KMT. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Kennametal by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 272 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Kennametal by 2.6% during the 2nd quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock valued at $223,000 after purchasing an additional 150 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Kennametal by 4.9% during the 2nd quarter. Capstone Asset Management Co. now owns 6,155 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 290 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Kennametal by 4.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,434 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 250 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in Kennametal by 19.2% during the 2nd quarter. LS Investment Advisors LLC now owns 6,552 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 1,057 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

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In related news, VP Charles Michael Jr. Byrnes acquired 1,900 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average cost of $33.00 per share, with a total value of $62,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Rossi acquired 29,880 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $33.46 per share, for a total transaction of $999,784.80. Following the completion of the acquisition, the insider now directly owns 29,850 shares of the company’s stock, valued at $998,781. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.

KMT has been the topic of several recent analyst reports. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub downgraded Kennametal from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company upgraded Kennametal from a “market perform” rating to an “outperform” rating and increased their target price for the company from $26.10 to $43.50 in a research note on Friday, August 4th. Stifel Nicolaus reiterated a “hold” rating on shares of Kennametal in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and increased their target price for the company from $40.00 to $43.00 in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $43.41.

Kennametal Inc. (KMT) opened at 40.12 on Thursday. The stock has a 50 day moving average price of $35.51 and a 200-day moving average price of $37.94. The stock has a market capitalization of $3.24 billion, a P/E ratio of 65.77 and a beta of 1.90. Kennametal Inc. has a 1-year low of $26.79 and a 1-year high of $43.09.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The company had revenue of $565.03 million for the quarter, compared to analysts’ expectations of $562.16 million. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. Kennametal’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. Equities research analysts expect that Kennametal Inc. will post $2.20 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Friday, August 18th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, August 16th. Kennametal’s dividend payout ratio (DPR) is presently 133.33%.

Kennametal Company 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.

Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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