Freestone Grove Partners LP purchased a new position in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,967 shares of the industrial products company's stock, valued at approximately $335,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kennametal during the 3rd quarter valued at $30,000. Blue Trust Inc. raised its stake in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC lifted its holdings in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock worth $35,000 after purchasing an additional 459 shares in the last quarter. Headlands Technologies LLC grew its holdings in Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after buying an additional 1,444 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Kennametal by 801.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock valued at $59,000 after buying an additional 2,181 shares during the period.
Kennametal Price Performance
KMT traded down $0.10 during trading on Wednesday, reaching $19.72. The stock had a trading volume of 1,891,815 shares, compared to its average volume of 870,957. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The business has a 50-day moving average of $20.27 and a 200-day moving average of $23.57. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The stock has a market cap of $1.53 billion, a PE ratio of 16.16, a PEG ratio of 3.69 and a beta of 1.39.
Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The company had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. During the same period last year, the firm posted $0.30 EPS. Kennametal's revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.
Kennametal Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Tuesday, May 13th. Kennametal's dividend payout ratio is currently 65.57%.
Insider Buying and Selling
In related news, CEO Sanjay Chowbey acquired 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares of the company's stock, valued at $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.41% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several brokerages recently commented on KMT. Barclays reduced their price objective on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Morgan Stanley decreased their price target on shares of Kennametal from $24.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kennametal has a consensus rating of "Hold" and an average price target of $25.20.
Get Our Latest Stock Report on Kennametal
About Kennametal
(
Free Report)
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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