Lisanti Capital Growth LLC Takes $588,000 Position in Kennametal Inc. (KMT)

Lisanti Capital Growth LLC acquired a new position in shares of Kennametal Inc. (NYSE:KMT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 13,505 shares of the industrial products company’s stock, valued at approximately $588,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. lifted its position in Kennametal by 94.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,120,564 shares of the industrial products company’s stock valued at $76,128,000 after acquiring an additional 1,027,424 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Kennametal by 195.4% in the second quarter. Eagle Asset Management Inc. now owns 1,100,769 shares of the industrial products company’s stock valued at $39,517,000 after acquiring an additional 728,189 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new stake in Kennametal in the second quarter valued at $24,187,000. Advisors Asset Management Inc. lifted its position in Kennametal by 39,914.5% in the second quarter. Advisors Asset Management Inc. now owns 641,432 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 639,829 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Kennametal in the second quarter valued at $19,846,000.

In other news, VP Gaalen Jan Kees Van sold 13,606 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total transaction of $559,070.54. Following the transaction, the vice president now directly owns 68,827 shares in the company, valued at $2,828,101.43. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michelle R. Keating sold 988 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $42.20, for a total transaction of $41,693.60. Following the transaction, the vice president now owns 14,676 shares in the company, valued at $619,327.20. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Shares of NYSE:KMT opened at $39.46 on Friday. Kennametal Inc. has a one year low of $32.91 and a one year high of $52.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.55 and a quick ratio of 1.15. The stock has a market capitalization of $3.36 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.61 and a beta of 2.12.

Kennametal (NYSE:KMT) last announced its earnings results on Monday, November 5th. The industrial products company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The business had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $590.22 million. During the same period in the prior year, the company earned $0.48 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts predict that Kennametal Inc. will post 3.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Tuesday, November 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.03%. Kennametal’s payout ratio is 30.19%.

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $47.00 price target on shares of Kennametal in a research report on Thursday, August 9th. Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Friday, October 12th. ValuEngine raised shares of Kennametal from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Bank of America reduced their target price on shares of Kennametal from $40.00 to $35.00 and set an “underperform” rating for the company in a report on Tuesday. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $42.00 target price on shares of Kennametal in a report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $48.50.

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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.

Further Reading: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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