Mutual of America Capital Management LLC lowered its position in shares of Kennametal Inc. (NYSE:KMT) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,928 shares of the industrial products company’s stock after selling 1,694 shares during the quarter. Mutual of America Capital Management LLC owned 0.08% of Kennametal worth $2,579,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in KMT. UBS Asset Management Americas Inc. boosted its stake in Kennametal by 14.9% during the first quarter. UBS Asset Management Americas Inc. now owns 57,047 shares of the industrial products company’s stock valued at $2,238,000 after buying an additional 7,406 shares in the last quarter. Prudential Financial Inc. boosted its stake in Kennametal by 11.4% during the first quarter. Prudential Financial Inc. now owns 56,399 shares of the industrial products company’s stock valued at $2,213,000 after buying an additional 5,790 shares in the last quarter. Credit Agricole S A boosted its stake in Kennametal by 1.1% during the first quarter. Credit Agricole S A now owns 12,000 shares of the industrial products company’s stock valued at $471,000 after buying an additional 131 shares in the last quarter. FMR LLC bought a new position in Kennametal during the first quarter valued at about $57,492,000. Finally, Teachers Advisors LLC boosted its stake in Kennametal by 33.9% during the first quarter. Teachers Advisors LLC now owns 811,608 shares of the industrial products company’s stock valued at $31,839,000 after buying an additional 205,307 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.
Shares of Kennametal Inc. (NYSE KMT) opened at 43.01 on Monday. The stock’s 50 day moving average price is $40.29 and its 200 day moving average price is $38.54. Kennametal Inc. has a one year low of $27.01 and a one year high of $43.62. The stock has a market capitalization of $3.47 billion, a P/E ratio of 70.51 and a beta of 1.94.
Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.08). The business had revenue of $565.03 million for the quarter, compared to the consensus estimate of $562.16 million. Kennametal had a return on equity of 12.51% and a net margin of 2.39%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, analysts forecast that Kennametal Inc. will post $2.21 EPS for the current year.
In other Kennametal news, VP Charles Michael Jr. Byrnes bought 1,900 shares of Kennametal stock in a transaction on Friday, August 18th. The shares were purchased at an average cost of $33.00 per share, for a total transaction of $62,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Rossi bought 29,880 shares of Kennametal stock in a transaction on Friday, August 18th. The shares were acquired at an average price of $33.46 per share, for a total transaction of $999,784.80. Following the completion of the acquisition, the insider now owns 29,850 shares of the company’s stock, valued at approximately $998,781. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.
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Several research analysts recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Kennametal in a research note on Friday, October 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $45.00 target price on shares of Kennametal in a report on Friday, October 20th. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, October 4th. BidaskClub downgraded Kennametal from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Kennametal in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $43.95.
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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