Municipal Employees Retirement System of Michigan Purchases New Position in Kennametal Inc. (KMT)

Municipal Employees Retirement System of Michigan purchased a new position in Kennametal Inc. (NYSE:KMT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,620 shares of the industrial products company’s stock, valued at approximately $653,000.

A number of other hedge funds also recently bought and sold shares of KMT. Pearl River Capital LLC purchased a new position in Kennametal in the 4th quarter worth about $30,000. Oregon Public Employees Retirement Fund increased its stake in Kennametal by 3,277.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,990 shares of the industrial products company’s stock worth $33,000 after buying an additional 1,055,775 shares during the period. Captrust Financial Advisors purchased a new position in Kennametal in the 4th quarter worth about $44,000. Meeder Asset Management Inc. purchased a new position in Kennametal in the 4th quarter worth about $170,000. Finally, LS Investment Advisors LLC increased its stake in Kennametal by 32.1% in the 4th quarter. LS Investment Advisors LLC now owns 6,010 shares of the industrial products company’s stock worth $200,000 after buying an additional 1,461 shares during the period. 99.76% of the stock is currently owned by institutional investors.

In other news, VP Peter A. Dragich sold 35,346 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $38.59, for a total value of $1,364,002.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Patrick S. Watson sold 2,265 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $37.93, for a total transaction of $85,911.45. The disclosure for this sale can be found here. Insiders sold a total of 39,501 shares of company stock worth $1,520,807 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Several research firms recently commented on KMT. ValuEngine downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Zacks Investment Research downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Wednesday, February 6th. Finally, Barclays cut their target price on shares of Kennametal from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $46.10.

NYSE KMT opened at $37.82 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 1.31 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.21 and a beta of 2.07. Kennametal Inc. has a one year low of $30.32 and a one year high of $45.10.

Kennametal (NYSE:KMT) last posted its earnings results on Monday, February 4th. The industrial products company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $587.40 million for the quarter, compared to the consensus estimate of $606.76 million. Kennametal had a net margin of 9.50% and a return on equity of 19.73%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, equities research analysts expect that Kennametal Inc. will post 3.13 EPS for the current year.

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Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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