Freestone Grove Partners LP purchased a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,967 shares of the industrial products company's stock, valued at approximately $335,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in shares of Kennametal during the 3rd quarter worth about $30,000. Blue Trust Inc. increased its stake in Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares during the period. GAMMA Investing LLC raised its holdings in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 459 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock worth $51,000 after acquiring an additional 1,444 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in shares of Kennametal by 801.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock worth $59,000 after purchasing an additional 2,181 shares in the last quarter.
Kennametal Price Performance
KMT stock traded up $0.02 during trading on Friday, hitting $20.76. 773,510 shares of the stock traded hands, compared to its average volume of 870,164. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 3.69 and a beta of 1.39. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The company has a 50 day simple moving average of $20.25 and a 200 day simple moving average of $23.49.
Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The business had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. During the same period in the previous year, the business earned $0.30 EPS. Kennametal's revenue was down 5.7% compared to the same quarter last year. Equities analysts expect that Kennametal Inc. will post 1.17 EPS for the current fiscal year.
Kennametal Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.85%. Kennametal's dividend payout ratio (DPR) is 65.57%.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Morgan Stanley reduced their target price on Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Finally, Barclays decreased their price objective on Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $25.20.
Check Out Our Latest Stock Report on Kennametal
Insiders Place Their Bets
In other news, CEO Sanjay Chowbey acquired 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the acquisition, the chief executive officer now owns 77,595 shares of the company's stock, valued at $1,687,691.25. This trade represents a 14.79 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.41% of the company's stock.
Kennametal Profile
(
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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