Impala Asset Management LLC acquired a new stake in shares of Kennametal Inc. (NYSE:KMT) in the fourth quarter, HoldingsChannel reports. The fund acquired 341,594 shares of the industrial products company’s stock, valued at approximately $16,537,000.
A number of other hedge funds have also recently bought and sold shares of the business. American International Group Inc. lifted its stake in Kennametal by 0.6% during the fourth quarter. American International Group Inc. now owns 220,109 shares of the industrial products company’s stock valued at $10,655,000 after buying an additional 1,216 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kennametal by 41.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock valued at $243,000 after buying an additional 1,463 shares in the last quarter. Granahan Investment Management Inc. MA lifted its stake in Kennametal by 1.6% during the third quarter. Granahan Investment Management Inc. MA now owns 94,429 shares of the industrial products company’s stock valued at $3,809,000 after buying an additional 1,477 shares in the last quarter. PEAK6 Investments L.P. lifted its stake in Kennametal by 25.9% during the third quarter. PEAK6 Investments L.P. now owns 7,673 shares of the industrial products company’s stock valued at $310,000 after buying an additional 1,578 shares in the last quarter. Finally, Strs Ohio lifted its stake in Kennametal by 23.5% during the fourth quarter. Strs Ohio now owns 10,500 shares of the industrial products company’s stock valued at $508,000 after buying an additional 2,000 shares in the last quarter. 98.70% of the stock is owned by institutional investors.
In related news, Director Timothy R. Mclevish sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total value of $960,000.00. Following the transaction, the director now owns 66,904 shares in the company, valued at $3,211,392. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Judith L. Bacchus sold 18,125 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $47.00, for a total value of $851,875.00. Following the completion of the transaction, the vice president now owns 38,528 shares in the company, valued at approximately $1,810,816. The disclosure for this sale can be found here. Insiders sold 45,125 shares of company stock worth $2,140,875 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.
Kennametal Inc. (NYSE KMT) opened at $41.20 on Thursday. The firm has a market capitalization of $3,360.00, a PE ratio of 22.76, a PEG ratio of 2.02 and a beta of 1.94. Kennametal Inc. has a twelve month low of $32.23 and a twelve month high of $52.52. The company has a quick ratio of 1.52, a current ratio of 2.77 and a debt-to-equity ratio of 0.60.
Kennametal (NYSE:KMT) last issued its earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Kennametal had a net margin of 6.54% and a return on equity of 17.09%. The business had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. During the same quarter in the prior year, the company earned $0.24 EPS. Kennametal’s revenue for the quarter was up 17.0% on a year-over-year basis. sell-side analysts forecast that Kennametal Inc. will post 2.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a yield of 1.94%. Kennametal’s dividend payout ratio is currently 44.20%.
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Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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