Dimensional Fund Advisors LP lifted its position in shares of Kennametal Inc. (NYSE:KMT) by 0.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,128,816 shares of the industrial products company’s stock after acquiring an additional 3,598 shares during the period. Dimensional Fund Advisors LP owned 2.63% of Kennametal worth $85,876,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Hartford Investment Management Co. bought a new position in Kennametal in the 3rd quarter valued at about $202,000. Moody Aldrich Partners LLC grew its position in Kennametal by 13.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 32,938 shares of the industrial products company’s stock valued at $1,329,000 after buying an additional 3,843 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Kennametal by 8.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 663,517 shares of the industrial products company’s stock valued at $26,767,000 after buying an additional 50,678 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Kennametal in the 3rd quarter valued at about $234,000. Finally, Wells Fargo & Company MN grew its position in Kennametal by 9.4% in the 3rd quarter. Wells Fargo & Company MN now owns 94,619 shares of the industrial products company’s stock valued at $3,818,000 after buying an additional 8,112 shares in the last quarter. Hedge funds and other institutional investors own 98.59% of the company’s stock.
Kennametal Inc. (NYSE KMT) opened at $48.57 on Friday. Kennametal Inc. has a 12-month low of $31.12 and a 12-month high of $49.31. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. The firm has a market cap of $3,968.93, a PE ratio of 35.98, a PEG ratio of 2.31 and a beta of 1.98.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.65%. Kennametal’s dividend payout ratio (DPR) is 59.26%.
In other news, VP Robert J. Clemens sold 10,000 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven H. Wunning sold 4,445 shares of the firm’s 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 transaction, the director now owns 29,693 shares of the company’s stock, valued at approximately $1,384,584.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,570 shares of company stock valued at $2,816,345. Insiders own 2.00% of the company’s stock.
KMT has been the subject of a number of recent analyst reports. Credit Suisse Group increased their target price on shares of Kennametal from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Wednesday, October 4th. ValuEngine lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Jefferies Group reiterated a “buy” rating and issued a $50.00 target price on shares of Kennametal in a research report on Friday, October 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Kennametal has an average rating of “Hold” and a consensus price target of $45.86.
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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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