Moller Financial Services Has $225,000 Stake in Kennametal Inc. (NYSE:KMT)
Moller Financial Services maintained its position in shares of Kennametal Inc. (NYSE:KMT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,000 shares of the industrial products company’s stock at the end of the second quarter. Moller Financial Services’ holdings in Kennametal were worth $225,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in KMT. Ledyard National Bank acquired a new position in shares of Kennametal during the first quarter valued at approximately $120,000. CIBC World Markets Inc. acquired a new position in shares of Kennametal during the first quarter valued at approximately $218,000. Oakbrook Investments LLC boosted its position in shares of Kennametal by 2.6% in the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock valued at $223,000 after buying an additional 150 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Kennametal during the first quarter valued at approximately $225,000. Finally, Capstone Asset Management Co. purchased a new stake in shares of Kennametal during the first quarter worth approximately $230,000. Institutional investors and hedge funds own 96.11% of the company’s stock.
Kennametal Inc. (KMT) opened at 34.08 on Friday. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 55.87 and a beta of 1.89. Kennametal Inc. has a 12 month low of $26.10 and a 12 month high of $43.09. The stock has a 50 day moving average of $37.66 and a 200 day moving average of $38.36.
Kennametal (NYSE:KMT) last posted its quarterly earnings data 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 company had revenue of $565.03 million during 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 firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. Equities analysts anticipate that Kennametal Inc. will post $2.20 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Wednesday, August 16th. Kennametal’s dividend payout ratio (DPR) is 133.33%.
A number of brokerages have commented on KMT. BidaskClub cut shares of Kennametal from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $40.00 price target for the company 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. Wells Fargo & Company upgraded shares of Kennametal from a “market perform” rating to an “outperform” rating and increased their price target for the company from $26.10 to $43.50 in a research note on Friday, August 4th. Finally, BMO Capital Markets increased their price target on shares of Kennametal from $40.00 to $45.00 and gave the company a “market perform” rating in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.77.
In related news, Director Philip A. Dur sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $40.01, for a total value of $280,070.00. Following the transaction, the director now directly owns 22,024 shares in the company, valued at $881,180.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate insiders.
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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