Los Angeles Capital Management & Equity Research Inc. Has $7.48 Million Position in Kennametal Inc. (KMT)
Los Angeles Capital Management & Equity Research Inc. increased its holdings in Kennametal Inc. (NYSE:KMT) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,349 shares of the industrial products company’s stock after purchasing an additional 9,500 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.23% of Kennametal worth $7,477,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in Kennametal by 52.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 66,519 shares of the industrial products company’s stock worth $2,683,000 after purchasing an additional 22,905 shares during the period. World Asset Management Inc purchased a new position in Kennametal in the 3rd quarter worth $207,000. Principal Financial Group Inc. raised its position in Kennametal by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 351,741 shares of the industrial products company’s stock worth $14,190,000 after purchasing an additional 3,485 shares during the period. American Century Companies Inc. raised its position 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 worth $96,118,000 after purchasing an additional 673,230 shares during the period. Finally, State of Wisconsin Investment Board purchased a new position in Kennametal in the 3rd quarter worth $4,579,000. Institutional investors own 95.29% of the company’s stock.
Shares of Kennametal Inc. (NYSE KMT) opened at $43.78 on Friday. The stock has a market cap of $3,548.28, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.07 and a beta of 1.96. Kennametal Inc. has a twelve month low of $31.12 and a twelve month high of $48.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.71 and a quick ratio of 1.41.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.17. The business had revenue of $542.45 million for the quarter, compared to analyst estimates of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. equities analysts expect that Kennametal Inc. will post 2.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, November 13th. Kennametal’s payout ratio is 59.26%.
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In other news, Director Steven H. Wunning sold 4,445 shares of Kennametal stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $46.63, for a total transaction of $207,270.35. Following the sale, the director now owns 29,693 shares of the company’s stock, valued at approximately $1,384,584.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Clemens sold 10,000 shares of Kennametal stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $46.82, for a total transaction of $468,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,015 shares of company stock worth $695,563 in the last ninety days. Insiders own 2.00% of the company’s stock.
KMT has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, October 4th. Credit Suisse Group lifted their target price on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Kennametal in a research report on Friday, October 20th. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 target price on shares of Kennametal in a research report on Friday, October 20th. Finally, BidaskClub cut shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Kennametal presently has a consensus rating of “Hold” and a consensus price target of $45.23.
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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