Kennametal Inc. (NYSE:KMT) Shares Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board increased its stake in shares of Kennametal Inc. (NYSE:KMT) by 38.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,700 shares of the industrial products company’s stock after acquiring an additional 5,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Kennametal were worth $367,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Profund Advisors LLC raised its stake in Kennametal by 4.9% during the 4th quarter. Profund Advisors LLC now owns 8,377 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 395 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in Kennametal by 0.4% during the 1st quarter. Moody Aldrich Partners LLC now owns 119,631 shares of the industrial products company’s stock worth $2,228,000 after acquiring an additional 445 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in Kennametal by 2.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 23,100 shares of the industrial products company’s stock worth $852,000 after acquiring an additional 500 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Kennametal by 4.6% during the 1st quarter. State of Alaska Department of Revenue now owns 14,249 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 628 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Kennametal by 0.5% during the 1st quarter. Wells Fargo & Company MN now owns 130,464 shares of the industrial products company’s stock worth $2,429,000 after acquiring an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.

KMT has been the topic of a number of recent research reports. Barclays restated a “buy” rating and issued a $27.00 price objective on shares of Kennametal in a research note on Sunday, March 22nd. BMO Capital Markets lifted their price objective on shares of Kennametal from $18.00 to $29.00 in a research note on Wednesday, June 10th. Morgan Stanley initiated coverage on shares of Kennametal in a research note on Friday, June 26th. They issued an “equal weight” rating and a $33.00 price objective on the stock. KeyCorp lifted their price objective on shares of Kennametal from $30.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Finally, Zacks Investment Research lowered shares of Kennametal from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a research note on Monday, June 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Kennametal currently has an average rating of “Hold” and an average target price of $31.78.

In related news, Director Lawrence W. Stranghoener sold 7,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $30.06, for a total transaction of $210,420.00. Following the sale, the director now owns 26,108 shares of the company’s stock, valued at $784,806.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michelle R. Keating sold 9,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $24.24, for a total transaction of $218,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,750 shares of company stock worth $730,280. Company insiders own 1.48% of the company’s stock.

Shares of Kennametal stock opened at $28.26 on Friday. Kennametal Inc. has a 52-week low of $14.45 and a 52-week high of $38.73. The company has a quick ratio of 1.17, a current ratio of 2.52 and a debt-to-equity ratio of 0.48. The company’s 50-day simple moving average is $27.64 and its 200-day simple moving average is $27.96. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 4.83 and a beta of 2.38.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. Kennametal had a net margin of 3.10% and a return on equity of 10.16%. The business had revenue of $483.10 million for the quarter, compared to analyst estimates of $503.23 million. During the same period in the previous year, the business posted $0.77 earnings per share. The business’s revenue was down 19.1% compared to the same quarter last year. Equities research analysts anticipate that Kennametal Inc. will post 0.92 EPS for the current year.

About Kennametal

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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