New York State Teachers Retirement System continued to hold its position in Kennametal Inc. (NYSE:KMT) during the second quarter, Holdings Channel reports. The fund owned 126,198 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Kennametal were worth $2,790,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. LS Investment Advisors LLC raised its position in Kennametal by 77.3% in the second quarter. LS Investment Advisors LLC now owns 4,878 shares of the company’s stock valued at $108,000 after buying an additional 2,126 shares during the period. Fox Run Management L.L.C. acquired a new position in Kennametal during the second quarter valued at about $287,000. Aperio Group LLC raised its position in Kennametal by 148.3% in the first quarter. Aperio Group LLC now owns 25,586 shares of the company’s stock valued at $575,000 after buying an additional 15,283 shares during the period. Nisa Investment Advisors LLC raised its position in Kennametal by 74.1% in the second quarter. Nisa Investment Advisors LLC now owns 29,830 shares of the company’s stock valued at $660,000 after buying an additional 12,700 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Kennametal during the first quarter valued at about $662,000. Hedge funds and other institutional investors own 97.66% of the company’s stock.
Kennametal Inc. (NYSE:KMT) traded down 1.67% during midday trading on Thursday, hitting $28.20. 1,153,096 shares of the company traded hands. The stock’s 50-day moving average is $28.20 and its 200-day moving average is $25.17. Kennametal Inc. has a 12-month low of $15.11 and a 12-month high of $29.87. The firm’s market capitalization is $2.25 billion.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Kennametal had a negative net margin of 10.77% and a positive return on equity of 7.51%. The business had revenue of $521.20 million for the quarter, compared to analyst estimates of $519.51 million. During the same period in the prior year, the business posted $0.46 earnings per share. Kennametal’s revenue was down 18.3% compared to the same quarter last year. Analysts anticipate that Kennametal Inc. will post $1.26 EPS for the current fiscal year.
Several research analysts have issued reports on KMT shares. Jefferies Group lifted their price target on shares of Kennametal from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday. Credit Suisse Group AG reiterated a “hold” rating on shares of Kennametal in a research report on Saturday, July 9th. Zacks Investment Research cut shares of Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Seaport Global Securities cut shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a research report on Thursday, August 18th. Finally, Barrington Research lifted their price objective on shares of Kennametal from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Kennametal has a consensus rating of “Hold” and an average target price of C$25.00.
Kennametal Inc (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.
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