Natixis Advisors LLC Boosts Position in Kennametal Inc. (NYSE:KMT)

Natixis Advisors LLC lifted its stake in shares of Kennametal Inc. (NYSE:KMT) by 20.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,158 shares of the industrial products company’s stock after acquiring an additional 2,415 shares during the period. Natixis Advisors LLC’s holdings in Kennametal were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. MQS Management LLC purchased a new position in shares of Kennametal during the 3rd quarter worth $437,000. Entropy Technologies LP purchased a new position in shares of Kennametal during the 3rd quarter worth $425,000. Covestor Ltd raised its holdings in shares of 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 acquiring an additional 472 shares during the period. International Assets Investment Management LLC raised its holdings in Kennametal by 1,235.5% in the 3rd quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company’s stock valued at $3,284,000 after buying an additional 117,162 shares during the period. Finally, Signaturefd LLC raised its holdings in Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,008 shares during the period.

Insider Transactions at Kennametal

In other news, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction dated 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 directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Loop Capital boosted their price objective on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. Barclays boosted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, Kennametal has a consensus rating of “Hold” and a consensus price target of $25.00.

Kennametal Stock Performance

NYSE KMT opened at $28.48 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The stock has a 50-day moving average of $26.67 and a two-hundred day moving average of $25.42. Kennametal Inc. has a 1-year low of $22.50 and a 1-year high of $32.18.

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

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal’s dividend payout ratio is currently 62.50%.

About Kennametal

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.