Kennametal Inc. (KMT) Holdings Cut by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC lessened its holdings in Kennametal Inc. (NYSE:KMT) by 64.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,051 shares of the industrial products company’s stock after selling 5,453 shares during the period. Tower Research Capital LLC TRC’s holdings in Kennametal were worth $147,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Stifel Financial Corp bought a new stake in shares of Kennametal during the second quarter worth about $295,000. Royal Bank of Canada grew its holdings in shares of Kennametal by 43.2% during the second quarter. Royal Bank of Canada now owns 26,814 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 8,090 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Kennametal by 8.9% during the third quarter. Aperio Group LLC now owns 24,701 shares of the industrial products company’s stock worth $996,000 after purchasing an additional 2,028 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Kennametal during the third quarter worth about $280,000. Finally, State of Wisconsin Investment Board bought a new stake in shares of Kennametal during the third quarter worth about $4,579,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.
Kennametal Inc. (KMT) opened at $41.03 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.77 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3,324.93, a P/E ratio of 18.28, a P/E/G ratio of 1.91 and a beta of 2.01. Kennametal Inc. has a 12 month low of $32.23 and a 12 month high of $52.52.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Monday, February 12th. Kennametal’s dividend payout ratio is currently 45.45%.
Several analysts have recently weighed in on the company. Barclays assumed coverage on Kennametal in a report on Thursday, February 15th. They set an “equal weight” rating and a $47.00 price target on the stock. ValuEngine cut Kennametal from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Barrington Research restated an “outperform” rating and set a $53.00 price target on shares of Kennametal in a report on Thursday, February 8th. JPMorgan Chase & Co. cut Kennametal from an “overweight” rating to a “neutral” rating in a report on Monday, February 5th. Finally, Stifel Nicolaus boosted their price target on Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a report on Sunday, February 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Kennametal currently has a consensus rating of “Hold” and a consensus price target of $49.95.
In related news, VP Judith L. Bacchus sold 18,125 shares of Kennametal stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $47.00, for a total value of $851,875.00. Following the transaction, the vice president now directly owns 38,528 shares of the company’s stock, valued at $1,810,816. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy R. Mclevish sold 20,000 shares of Kennametal stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total value of $960,000.00. Following the completion of the transaction, the director now directly owns 66,904 shares in the company, valued at $3,211,392. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,125 shares of company stock worth $2,140,875. 2.00% of the stock is owned by insiders.
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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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