Ariel Investments LLC has recently announced that it has increased stake in Kennametal Inc. (NYSE:KMT) by 0.20%. After grabbing 10.62 million shares, the institutional investor is now in possession of 21303.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 13.04% having worth around $283.71 million. Moreover, BlackRock Fund Advisors increased its share by 26396.0 to have a control over 9.0 million shares. And The Vanguard Group, Inc. raised its holdings to 3042.0 shares by acquiring 8.05 million shares or 9.88% of the stake.
Kennametal Inc. (KMT) concluded trading on 11/23/22 at a closing price of $26.63, with 0.48 million shares of worth about $12.69 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -0.97% during that period and on Wednesday the price saw a gain of about 0.76%. Currently the company’s common shares owned by public are about 81.54M shares, out of which, 79.88M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the KMT stock and their offered price forecasts bring an average price target of $24.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $30.00 and could fall to a lowest price of $19.00. The stock’s current price level is -10.96% below of average price target set by the analysts, while a dip to estimated low would result in loss of -40.16% for the stock. However, touching the estimated high of $30.00 would mean a gain of 11.23% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 63 times over the past 12 months. They bought 314,867 shares in 46 of the transactions. In 17 selling transactions, insiders dumped 39,041 shares.
Ariel Fund, Vanguard Total Stock Market Index, and iShares Core S&P Mid Cap ETF are the top 3 mutual funds which are holding stakes in Kennametal Inc. Ariel Fund is currently holding 2.92 million shares of worth totaling $77.9 million. The company recently came buying 0.33 million shares which brought its stake up to 3.58% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 12608.0 shares, after which its hold over company’s outstanding shares expand to 3.05%, leaving 2.48 million shares with the mutual fund that have a worth of about $66.35 million. iShares Core S&P Mid Cap ETF, after buying 2.45 million shares, have now control over 3.00% of the stake in the company. It holds 952.0 shares of worth $65.36 million.
Kennametal Inc. (NYSE: KMT) started trading at $26.45, above $0.02 from concluding price of the previous day. Stock saw a price change of 1.06% in past 5 days and over the past one month there was a price change of 4.51%. Year-to-date (YTD), KMT shares are showing a performance of -25.84% which decreased to -32.43% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $20.21 but also hit the highest price of $40.15 during that period. The average intraday trading volume for Kennametal Inc. shares is 822.07K. The stock is currently trading 4.20% above its 20-day simple moving average (SMA20), while that difference is up 12.29% for SMA50 and it goes to 1.67% higher than SMA200.
Ariel Investments LLC acquired 10.62 million shares of Kennametal Inc. having value of about $283.71 million. Data submitted at the U.S SEC by Ariel Investments LLC revealed that the firm now holds 21303.0 shares in the company valued at close to $567298.89, or have control over 0.20% stake in the company. Holding of mutual funds in the company is about 43.15% while other institutional holders and individual stake holders have control over 57.40% and 3.15% of the stake respectively.
The stock has a current market capitalization of $2.10B and its 3Y-monthly beta is at 1.91. PE ratio of stock for trailing 12 months is 16.25, while it has posted earnings per share of $1.64 in the same period. Its PEG reads 4.51 and has Quick Ratio of 0.80 while making debt-to-equity ratio of 0.57. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for KMT, volatility over the week remained 2.45% while standing at 3.64% over the month.
Analysts are in expectations that Kennametal Inc. (KMT) stock would likely to be making an EPS of $0.37 in the current quarter, while forecast for next quarter EPS is $0.35 and it is $1.92 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.34 which is $0.4 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.44 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 166.90% while it is estimated to increase by 16.21% in next year. EPS is likely to shrink at an annualized rate of 3.60% for next 5-years, compared to annual growth of 23.30% made by the stock over the past 5-years.
Analysts at 10 brokerage firms have issued recommendations for the Kennametal Inc. (KMT)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.10. Out of those 10 Wall Street analysts, 1 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 3 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on July 08, 2022 offering a Sell rating for the stock and assigned a target price range of between $27 and $19 to it. Coverage by Loop Capital stated Kennametal Inc. (KMT) stock as a Hold in their note to investors on April 06, 2022, suggesting a price target of $29 for the stock. On March 28, 2022, JP Morgan Downgrade their recommendations, while on October 27, 2021, BofA Securities Upgrade their ratings for the stock with a price target of $45. Stock get a Buy rating from Loop Capital on August 30, 2021.