California State Teachers Retirement System raised its stake in Kennametal Inc. (NYSE:KMT) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,204 shares of the company’s stock after buying an additional 1,500 shares during the period. California State Teachers Retirement System owned about 0.21% of Kennametal worth $4,852,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of KMT. State Treasurer State of Michigan raised its position in Kennametal by 0.3% in the third quarter. State Treasurer State of Michigan now owns 32,060 shares of the company’s stock worth $930,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank raised its position in Kennametal by 2.4% in the second quarter. Amalgamated Bank now owns 9,816 shares of the company’s stock worth $283,000 after buying an additional 228 shares during the last quarter. Comerica Bank raised its position in Kennametal by 0.5% in the second quarter. Comerica Bank now owns 63,620 shares of the company’s stock worth $1,755,000 after buying an additional 292 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Kennametal by 7.3% in the third quarter. LS Investment Advisors LLC now owns 5,233 shares of the company’s stock worth $152,000 after buying an additional 355 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Kennametal by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 35,770 shares of the company’s stock worth $1,038,000 after buying an additional 510 shares in the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.
Shares of Kennametal Inc. (NYSE:KMT) traded up 1.00% during midday trading on Friday, reaching $36.26. The company’s stock had a trading volume of 314,067 shares. Kennametal Inc. has a 12 month low of $16.39 and a 12 month high of $36.78. The stock’s market capitalization is $2.90 billion. The stock’s 50-day moving average is $33.39 and its 200 day moving average is $29.81.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $477 million for the quarter, compared to analyst estimates of $483.61 million. Kennametal had a negative net margin of 11.95% and a positive return on equity of 7.94%. Kennametal’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. On average, analysts expect that Kennametal Inc. will post $1.32 earnings per share for the current fiscal year.
Several analysts have weighed in on KMT shares. Jefferies Group LLC upped their target price on Kennametal from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. BMO Capital Markets restated a “market perform” rating and issued a $30.00 price objective (up from $27.00) on shares of Kennametal in a research report on Thursday, November 10th. Bank of America Corp upgraded Kennametal from an “underperform” rating to a “neutral” rating and set a $36.00 price objective on the stock in a research report on Friday, January 13th. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. Finally, KeyCorp upgraded Kennametal from a “sector weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research report on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.58.
In related news, insider Judith L. Bacchus sold 4,000 shares of Kennametal stock in a transaction on Friday, November 11th. The stock was sold at an average price of $33.92, for a total transaction of $135,680.00. Following the completion of the sale, the insider now owns 7,383 shares of the company’s stock, valued at $250,431.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have purchased 8,500 shares of company stock valued at $3,430. Insiders own 3.00% of the company’s stock.
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.
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