The institutional investor owned 785,047 shares of the industrial products company's stock after selling 364,000 shares during the period.
Legal & General Group increased its position in stocks of Kennametal (NYSE:KMT) by 6.7% during the Q1, based on a filing with the SEC.
Other big clients also recently purchased to or lowered their position in The corporation. Affinity Wealth Management acquired a new stake in shares of Kennametal during the first quarter valued at approximately $339,000. Louisiana State Employees Retirement System boosted its stake in shares of Kennametal by 2.5% in the first quarter. State Street Corp now owns 2,527,370 shares of the industrial products company's stock worth $79,009,000 after buying an additional 29,639 shares during the last quarter. Can raised its position in Kennametal by 1.5% in the first quarter. Credit Agricole S A now owns 12,000 shares of the industrial products company's stock valued at $471,000 after buying an additional 131 shares during the last quarter. Comerica Bank increased its stake in shares of Kennametal by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 7,027,024 shares of the industrial products company's stock valued at $275,670,000 after buying an additional 614,094 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Kennametal by 0.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,042,421 shares of the industrial products company's stock valued at $40,894,000 after buying an additional 914,561 shares during the last quarter. Institutional investors own 96.97% of the company's stock.
Kennametal Inc. has a 12 month low of $20.90 and a 12 month high of $43.09.
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Shares of Kennametal (NYSE:KMT) traded down 0.47% during midday trading on Friday, reaching $38.13. Company's market valuation is $3.10 B. The company's 50-day moving average is $38.97 and its 200-day moving average is $37.43. The industrial products company reported $0.60 EPS for the quarter, beating the Zacks' consensus estimate of $0.44 by $0.16. Kennametal had a positive ROE of 11.59% and a negative net profit margin of 2.09%. The company posted earnings of $528.60 M for the period end, compared with brokerage expectations of $511.79 M. for the same period in the prior fiscal year, firm posted $0.37 EPS. the firms for the quarter end, revenue was upwards of 6.2% compared with the same period in the prior year. During the same quarter a year ago, the business earned $0.37 EPS. Kennametal's revenue for the quarter was up 6.2% compared to the same quarter past year. On average, equities analysts anticipate that Kennametal Inc. will post $1.59 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. It improved, as 25 investors sold Kennametal Inc. shares while 90 reduced holdings. If you are reading this article on another domain, it was illegally copied and reposted in violation of US & worldwide trademark & copyright legislation. The original version of this article can be read at https://www.thestockobserver.com/2017/07/12/first-trust-advisors-lp-has-1-44-million-stake-in-kennametal-inc-kmt-updated-updated.html.
A number of equities research analysts recently commented on the company. Research firm Zacks lifted Kennametal from a "hold" recommendation to a "buy" recommendation and fixed a $41.00 PT on the shares in a study note on early Tue, Mar 28th. Jefferies Group LLC reiterated a "buy" rating and issued a $47.00 price target (up previously from $45.00) on shares of Kennametal in a research note on Friday, April 14th. BMO Capital Markets restated a "hold" rating and set a $40.00 price target on shares of Kennametal in a research report on Thursday, April 20th. Barrington Research upped their target price on shares of Kennametal from $45.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, April 27th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. The company has a consensus rating of "Hold" and a consensus price target of $41.09. Also, Director Philip A. Dur sold 7,000 shares of the company's stock in a transaction dated Thursday, June 8th. They now have a Dollars 40 price target on the stock. Following the transaction, the director now directly owns 22,024 shares in the company, valued at $881,180.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The stock was sold at an average price of $41.89, for a total transaction of $384,047.52. Following the sale, the vice president now directly owns 16,767 shares of the company's stock, valued at $702,369.63. The disclosure for this sale can be found here. Insiders own 3.00% of the company's stock.
Kennametal Inc.is a supplier of tooling, engineered components and materials consumed in production processes.
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