UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $5.11 Million Stock Position in Kennametal Inc. (NYSE:KMT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Kennametal Inc. (NYSE:KMT) by 24.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 212,536 shares of the industrial products company’s stock after purchasing an additional 41,163 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kennametal were worth $5,105,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock worth $11,270,000 after acquiring an additional 115,718 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kennametal during the fourth quarter valued at about $373,000. AMH Equity Ltd bought a new stake in shares of Kennametal during the fourth quarter worth about $1,441,000. Amundi increased its stake in shares of Kennametal by 174.7% in the fourth quarter. Amundi now owns 40,359 shares of the industrial products company’s stock valued at $982,000 after buying an additional 25,666 shares during the period. Finally, Invesco Ltd. raised its holdings in Kennametal by 4.1% in the 4th quarter. Invesco Ltd. now owns 426,083 shares of the industrial products company’s stock valued at $10,235,000 after buying an additional 16,926 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on KMT shares. Wall Street Zen upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Barclays raised their target price on Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Finally, Morgan Stanley upped their price target on Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.80.

Kennametal Stock Up 1.1%

KMT opened at $21.53 on Wednesday. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The company’s 50-day moving average price is $20.19 and its two-hundred day moving average price is $22.81. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 3.69 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The business had revenue of $486.40 million for the quarter, compared to analysts’ expectations of $489.30 million. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, equities analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Tuesday, May 13th. Kennametal’s dividend payout ratio (DPR) is currently 57.55%.

Kennametal 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.