Inspire Investing LLC Has $445,000 Stock Holdings in Kennametal Inc. (NYSE:KMT)

Inspire Investing LLC lifted its stake in shares of Kennametal Inc. (NYSE:KMT) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,512 shares of the industrial products company’s stock after purchasing an additional 672 shares during the period. Inspire Investing LLC’s holdings in Kennametal were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of Kennametal by 33.5% during the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock worth $162,105,000 after purchasing an additional 1,567,867 shares during the period. Brandes Investment Partners LP grew its holdings in shares of Kennametal by 35.1% during the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after buying an additional 606,477 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock valued at $47,096,000 after buying an additional 17,265 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Kennametal by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,423,495 shares of the industrial products company’s stock valued at $36,911,000 after buying an additional 67,392 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Kennametal during the third quarter valued at $10,295,000.

Wall Street Analysts Forecast Growth

KMT has been the topic of a number of research analyst reports. Barclays lowered their price target on Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley lifted their price target on Kennametal from $24.50 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $32.00 in a report on Friday, December 6th. Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research note on Friday, October 18th. Finally, Loop Capital boosted their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.67.

Insider Activity

In other news, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the sale, the vice president now directly owns 39,581 shares of the company’s stock, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the sale, the vice president now directly owns 1,642 shares of the company’s stock, valued at $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

Kennametal Trading Down 0.1 %

Shares of KMT opened at $23.98 on Friday. Kennametal Inc. has a 1 year low of $22.50 and a 1 year high of $32.18. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $25.88 and a 200-day simple moving average of $25.66. The stock has a market cap of $1.86 billion, a PE ratio of 18.73, a PEG ratio of 2.05 and a beta of 1.67.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. Kennametal’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. On average, sell-side analysts predict that Kennametal Inc. will post 1.44 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 3.34%. Kennametal’s payout ratio is 62.50%.

Kennametal Company Profile

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.