Bogle Investment Management L P DE Purchases New Holdings in Kennametal Inc. (KMT)
Bogle Investment Management L P DE purchased a new stake in Kennametal Inc. (NYSE:KMT) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 35,701 shares of the industrial products company’s stock, valued at approximately $1,728,000.
Other large investors also recently made changes to their positions in the company. Hartford Investment Management Co. purchased a new position in shares of Kennametal in the 3rd quarter valued at $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Kennametal by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 1,463 shares during the period. Trexquant Investment LP purchased a new position in shares of Kennametal in the 3rd quarter valued at $207,000. World Asset Management Inc purchased a new position in shares of Kennametal in the 3rd quarter valued at $207,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Kennametal in the 3rd quarter valued at $234,000. Institutional investors and hedge funds own 98.70% of the company’s stock.
Kennametal Inc. (KMT) opened at $41.03 on Monday. Kennametal Inc. has a one year low of $32.23 and a one year high of $52.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.52 and a current ratio of 2.77. The firm has a market capitalization of $3,350.00, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.92 and a beta of 2.01.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.80 annualized dividend and a yield of 1.95%. Kennametal’s payout ratio is presently 44.20%.
A number of research analysts have recently issued reports on the company. Barclays assumed coverage on Kennametal in a report on Thursday, February 15th. They issued an “equal weight” rating and a $47.00 price target on the stock. ValuEngine downgraded Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Barrington Research restated an “outperform” rating and set a $53.00 target price on shares of Kennametal in a research note on Thursday, February 8th. JPMorgan Chase & Co. downgraded Kennametal from an “overweight” rating to a “neutral” rating in a research note on Monday, February 5th. Finally, Stifel Nicolaus boosted their target price on Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a research note on Sunday, February 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $49.95.
In other Kennametal news, Director Timothy R. Mclevish sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the sale, the director now owns 66,904 shares in the company, valued at approximately $3,211,392. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.
ILLEGAL ACTIVITY NOTICE: “Bogle Investment Management L P DE Purchases New Holdings in Kennametal Inc. (KMT)” was posted by Daily Political and is owned by of Daily Political. If you are viewing this report on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The original version of this report can be accessed at https://www.dailypolitical.com/2018/03/05/bogle-investment-management-l-p-de-purchases-new-holdings-in-kennametal-inc-kmt.html.
Kennametal Company Profile
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.
Want to see what other hedge funds are holding KMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kennametal Inc. (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.