DekaBank Deutsche Girozentrale Buys Shares of 33,900 Kennametal (KMT)

DekaBank Deutsche Girozentrale bought a new stake in shares of Kennametal (NYSE:KMT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,900 shares of the industrial products company’s stock, valued at approximately $1,339,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Kennametal by 1.8% during the 4th quarter. BlackRock Inc. now owns 8,524,732 shares of the industrial products company’s stock valued at $412,683,000 after acquiring an additional 150,707 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of Kennametal by 7.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,966,940 shares of the industrial products company’s stock valued at $143,630,000 after acquiring an additional 208,677 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Kennametal by 3.0% during the 4th quarter. Alliancebernstein L.P. now owns 2,612,672 shares of the industrial products company’s stock valued at $126,479,000 after acquiring an additional 75,468 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Kennametal by 39.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,719,336 shares of the industrial products company’s stock valued at $83,234,000 after acquiring an additional 487,255 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in shares of Kennametal by 0.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,235,594 shares of the industrial products company’s stock valued at $59,815,000 after acquiring an additional 5,272 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Shares of KMT opened at $39.73 on Friday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.00 and a beta of 2.05. Kennametal has a 52-week low of $39.10 and a 52-week high of $39.47. The company has a quick ratio of 1.47, a current ratio of 2.60 and a debt-to-equity ratio of 0.57.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, May 2nd. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.02). Kennametal had a return on equity of 17.01% and a net margin of 6.83%. The business had revenue of $607.94 million during the quarter, compared to analysts’ expectations of $601.10 million. During the same quarter in the previous year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. sell-side analysts anticipate that Kennametal will post 2.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 30th. Shareholders of record on Tuesday, May 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.01%. Kennametal’s payout ratio is 52.63%.

A number of brokerages recently issued reports on KMT. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Thursday. ValuEngine upgraded Kennametal from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. JPMorgan Chase lowered their price target on Kennametal from $48.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, April 10th. Stifel Nicolaus lowered their price target on Kennametal from $52.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 4th. Finally, Barrington Research restated a “buy” rating and issued a $53.00 price target on shares of Kennametal in a research report on Tuesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $49.18.

Kennametal Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.

Want to see what other hedge funds are holding KMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kennametal (NYSE:KMT).

Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply