Argyle Capital Management buys $613,660 stake in Kennametal (KMT)

Kennametal (KMT) : Argyle Capital Management scooped up 1,800 additional shares in Kennametal during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 24,400 shares of Kennametal which is valued at $613,660.Kennametal makes up approximately 0.25% of Argyle Capital Management’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama boosted its stake in KMT in the latest quarter, The investment management firm added 62 additional shares and now holds a total of 102,796 shares of Kennametal which is valued at $2,585,319. Kennametal makes up approx 0.01% of Retirement Systems Of Alabama’s portfolio.Louisiana State Employees Retirement System reduced its stake in KMT by selling 900 shares or 4.07% in the most recent quarter. The Hedge Fund company now holds 21,200 shares of KMT which is valued at $533,180. Kennametal makes up approx 0.03% of Louisiana State Employees Retirement System’s portfolio.Ls Investment Advisors boosted its stake in KMT in the latest quarter, The investment management firm added 2,126 additional shares and now holds a total of 4,878 shares of Kennametal which is valued at $118,340. Kennametal makes up approx 0.01% of Ls Investment Advisors’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in KMT in the latest quarter, The investment management firm added 36,735 additional shares and now holds a total of 37,594 shares of Kennametal which is valued at $819,925.

Kennametal opened for trading at $24.68 and hit $25 on the upside on Friday, eventually ending the session at $24.86, with a gain of 0.40% or 0.1 points. The heightened volatility saw the trading volume jump to 11,58,454 shares. Company has a market cap of $1,981 M.

On the company’s financial health, Kennametal reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.43. The company had revenue of $521.20 million for the quarter, compared to analysts expectations of $518.96 million. The company’s revenue was down -18.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on Kennametal. Kennametal was Downgraded by BofA/Merrill to ” Underperform” on Jul 7, 2016. Company shares were Reiterated by Barrington Research on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 28 from a previous price target of $25 .Kennametal was Downgraded by Stifel to ” Hold” on May 4, 2016.

Kennametal Inc. (Kennametal) is a supplier of tooling engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products application engineering and services backed by material science serving customers across diverse sectors of industrial production transportation earthworks energy infrastructure and aerospace. The Company markets its products under the brands Kennametal and WIDIA. The Company’s product offering includes a selection of standard and customized technologies for metalworking such as metal cutting tools tooling systems and services as well as materials such as cemented tungsten carbide products super alloys coatings and investment castings to address customer demands. It offers these products through a range of channels to meet customer-specified needs.

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