Quest Partners LLC Boosts Stock Holdings in Kennametal Inc. (NYSE:KMT)

Quest Partners LLC boosted its position in shares of Kennametal Inc. (NYSE:KMT) by 2,429.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 46,929 shares of the industrial products company’s stock after buying an additional 45,074 shares during the period. Quest Partners LLC’s holdings in Kennametal were worth $1,217,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Covestor Ltd increased its stake in Kennametal by 14.4% during the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock worth $97,000 after buying an additional 472 shares in the last quarter. Quarry LP increased its stake in Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after buying an additional 704 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Kennametal by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 945 shares during the last quarter. CWM LLC boosted its holdings in shares of Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 970 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,008 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KMT shares. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a report on Friday, October 18th. Barclays boosted their target price on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Loop Capital boosted their target price on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.00.

Kennametal Trading Down 0.8 %

KMT opened at $27.97 on Wednesday. Kennametal Inc. has a one year low of $22.50 and a one year high of $32.18. The stock has a market capitalization of $2.17 billion, a PE ratio of 21.85, a P/E/G ratio of 2.39 and a beta of 1.64. The business’s 50 day moving average price is $26.26 and its 200 day moving average price is $25.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that Kennametal Inc. will post 1.45 EPS for the current year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal’s payout ratio is 62.50%.

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.