Bryce Point Capital LLC Makes New $484,000 Investment in Kennametal Inc. (NYSE:KMT)

Bryce Point Capital LLC bought a new stake in 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 bought 20,137 shares of the industrial products company's stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KMT. Wilmington Savings Fund Society FSB acquired a new position in shares of Kennametal in the 3rd quarter valued at $30,000. Blue Trust Inc. lifted 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 worth $34,000 after buying an additional 716 shares during the last quarter. GAMMA Investing LLC increased its position 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 buying an additional 459 shares during the period. Headlands Technologies LLC grew its holdings in shares of Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock worth $51,000 after purchasing an additional 1,444 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Kennametal by 50.3% in the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 1,122 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief executive officer now directly owns 77,595 shares of the company's stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.41% of the company's stock.

Kennametal Trading Down 5.3 %

Shares of NYSE:KMT traded down $1.02 during trading on Thursday, reaching $18.07. The company's stock had a trading volume of 320,067 shares, compared to its average volume of 843,616. The stock has a market capitalization of $1.40 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. The firm's 50 day simple moving average is $21.54 and its two-hundred day simple moving average is $24.43. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. On average, research analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.43%. Kennametal's payout ratio is presently 65.57%.

Analysts Set New Price Targets

Several brokerages recently commented on KMT. StockNews.com cut Kennametal from a "buy" rating to a "hold" rating in a report on Wednesday. Barclays lowered their target price on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday. Finally, Morgan Stanley decreased their target price on Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $26.00.

Kennametal 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.