Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Kennametal from $30.00 to $26.00 and set an underweight rating on the stock in a report on Monday, October 16th. The Goldman Sachs Group decreased their price objective on Kennametal from $26.00 to $23.00 and set a sell rating for the company in a research note on Thursday, November 2nd. Bank of America cut their target price on Kennametal from $28.00 to $25.00 in a research note on Wednesday, October 11th. Morgan Stanley started coverage on shares of Kennametal in a report on Monday, January 8th. They issued an equal weight rating and a $24.00 target price for the company. Finally, Barclays lowered their price target on shares of Kennametal from $28.00 to $26.00 and set an equal weight rating on the stock in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $25.64.
Kennametal Stock Down 0.3 %
Institutional Trading of Kennametal
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Kennametal by 32.3% during the first quarter. BlackRock Inc. now owns 13,646,987 shares of the industrial products company’s stock worth $376,384,000 after purchasing an additional 3,328,786 shares during the period. Ariel Investments LLC boosted its holdings in Kennametal by 8.9% in the first quarter. Ariel Investments LLC now owns 9,707,735 shares of the industrial products company’s stock valued at $277,739,000 after purchasing an additional 790,456 shares during the last quarter. State Street Corp grew its position in Kennametal by 13.0% during the 1st quarter. State Street Corp now owns 3,042,929 shares of the industrial products company’s stock worth $83,924,000 after purchasing an additional 349,174 shares during the period. Victory Capital Management Inc. raised its stake in shares of Kennametal by 10.1% during the 4th quarter. Victory Capital Management Inc. now owns 3,247,088 shares of the industrial products company’s stock valued at $78,125,000 after buying an additional 297,345 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Kennametal in the 4th quarter valued at about $6,066,000.
Kennametal Company 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.
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