Public Employees Retirement System of Ohio Lowers Position in Kennametal Inc. (KMT)

Public Employees Retirement System of Ohio decreased its position in Kennametal Inc. (NYSE:KMT) by 56.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,186 shares of the industrial products company’s stock after selling 60,669 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Kennametal worth $1,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Granahan Investment Management Inc. MA boosted its holdings in shares of Kennametal by 1.6% in 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 purchasing an additional 1,477 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Kennametal by 23.3% in the third quarter. Janus Henderson Group PLC now owns 2,509,518 shares of the industrial products company’s stock valued at $101,234,000 after purchasing an additional 474,225 shares during the period. PEAK6 Investments L.P. boosted its holdings in shares of Kennametal by 25.9% in the third quarter. PEAK6 Investments L.P. now owns 7,673 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 1,578 shares during the period. AMP Capital Investors Ltd boosted its holdings in shares of Kennametal by 11.6% in the third quarter. AMP Capital Investors Ltd now owns 155,669 shares of the industrial products company’s stock valued at $6,280,000 after purchasing an additional 16,172 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Kennametal by 115.1% in the third quarter. Allianz Asset Management GmbH now owns 59,472 shares of the industrial products company’s stock valued at $2,399,000 after purchasing an additional 31,827 shares during the period. Hedge funds and other institutional investors own 98.59% of the company’s stock.

A number of brokerages recently issued reports on KMT. ValuEngine lowered Kennametal from a “buy” rating to a “hold” rating in a report on Friday, December 1st. TheStreet upgraded Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Jefferies Group reiterated a “buy” rating and issued a $50.00 price target on shares of Kennametal in a report on Thursday, September 21st. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, October 4th. Finally, Credit Suisse Group boosted their price objective on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Kennametal presently has a consensus rating of “Hold” and an average target price of $45.86.

Kennametal Inc. (KMT) opened at $49.32 on Wednesday. The company has a market cap of $3,923.54, a P/E ratio of 36.53, a P/E/G ratio of 2.28 and a beta of 1.98. Kennametal Inc. has a 12 month low of $31.28 and a 12 month high of $49.65. The company has a quick ratio of 1.41, a current ratio of 2.71 and a debt-to-equity ratio of 0.63.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.17. The company had revenue of $542.45 million during the quarter, compared to the consensus estimate of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. Kennametal’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. analysts forecast that Kennametal Inc. will post 2.54 EPS for the current fiscal year.

In other news, Director Steven H. Wunning sold 4,445 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $46.63, for a total transaction of $207,270.35. Following the transaction, the director now directly owns 29,693 shares of the company’s stock, valued at $1,384,584.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy R. Mclevish sold 20,000 shares of the company’s stock in a transaction 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 directly owns 66,904 shares in the company, valued at $3,211,392. The disclosure for this sale can be found here. Insiders sold 59,570 shares of company stock valued at $2,816,345 in the last three months. 2.00% of the stock is currently owned by insiders.

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Kennametal Profile

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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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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