UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Kennametal Inc. (NYSE:KMT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Kennametal Inc. (NYSE:KMT) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 171,373 shares of the industrial products company’s stock after purchasing an additional 2,401 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kennametal were worth $4,444,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Kennametal by 46.7% in the second quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after buying an additional 970 shares during the period. Bank of New York Mellon Corp increased its position in shares of Kennametal by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 1,270,285 shares of the industrial products company’s stock valued at $29,903,000 after acquiring an additional 48,638 shares in the last quarter. Azarias Capital Management L.P. raised its stake in shares of Kennametal by 34.9% in the second quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company’s stock worth $6,106,000 after purchasing an additional 67,139 shares during the last quarter. Legato Capital Management LLC bought a new position in Kennametal during the 2nd quarter valued at about $900,000. Finally, Innealta Capital LLC purchased a new stake in Kennametal during the 2nd quarter valued at $90,000.

Analyst Upgrades and Downgrades

KMT has been the topic of a number of research reports. Loop Capital raised their price objective on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a report on Friday, October 18th. Finally, StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.17.

Kennametal Trading Down 0.1 %

Shares of Kennametal stock opened at $26.96 on Friday. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.29 and a beta of 1.65. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The firm’s 50 day simple moving average is $27.13 and its two-hundred day simple moving average is $25.57. Kennametal Inc. has a 12-month low of $22.50 and a 12-month high of $32.18.

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

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Tuesday, November 12th. Kennametal’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling

In related news, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the sale, the vice president now directly owns 39,581 shares of the company’s stock, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the transaction, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.

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.