15,514 Shares in Kennametal Inc. (NYSE:KMT) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Kennametal Inc. (NYSE:KMT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,514 shares of the industrial products company’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brandes Investment Partners LP increased its position in shares of Kennametal by 3.1% during the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock worth $61,819,000 after purchasing an additional 78,149 shares during the last quarter. American Century Companies Inc. increased its position in shares of Kennametal by 13.8% during the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock valued at $61,106,000 after acquiring an additional 308,000 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Kennametal in the 4th quarter valued at approximately $59,207,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kennametal by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,479,599 shares of the industrial products company’s stock worth $35,540,000 after acquiring an additional 56,104 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock worth $11,270,000 after purchasing an additional 115,718 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KMT. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, April 28th. Barclays decreased their target price on Kennametal from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley cut their price target on shares of Kennametal from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.20.

Kennametal Trading Up 0.1 %

NYSE:KMT opened at $20.76 on Friday. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18. The firm has a market cap of $1.61 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $20.25 and a 200 day moving average price of $23.50.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. Sell-side analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.85%. Kennametal’s dividend payout ratio (DPR) is currently 65.57%.

Insider Buying and Selling

In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at $1,687,691.25. This trade represents a 14.79 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.41% of the company’s stock.

Kennametal Company 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.