Bank of Montreal Can Boosts Stock Holdings in Kennametal Inc. (NYSE:KMT)

Bank of Montreal Can grew its holdings in Kennametal Inc. (NYSE:KMT) by 10.5% in the 4th quarter, HoldingsChannel reports. The firm owned 9,437 shares of the industrial products company’s stock after buying an additional 898 shares during the quarter. Bank of Montreal Can’s holdings in Kennametal were worth $227,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Kennametal in the 3rd quarter valued at $30,000. Blue Trust Inc. raised its holdings in Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 716 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after buying an additional 459 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after buying an additional 1,444 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Kennametal by 50.3% in the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock worth $80,000 after buying an additional 1,122 shares during the last quarter.

Kennametal Stock Up 3.3 %

NYSE:KMT opened at $19.69 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The company’s fifty day moving average price is $20.75 and its 200-day moving average price is $23.93. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18. The firm has a market capitalization of $1.52 billion, a P/E ratio of 16.14, a PEG ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, equities research analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Tuesday, February 11th. Kennametal’s payout ratio is presently 65.57%.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was acquired at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KMT. Barclays reduced their price target on Kennametal from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley decreased their price objective on shares of Kennametal from $24.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.20.

Kennametal Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.