Dark Forest Capital Management LP Purchases Shares of 36,658 Kennametal Inc. (NYSE:KMT)

Dark Forest Capital Management LP acquired a new stake in Kennametal Inc. (NYSE:KMT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,658 shares of the industrial products company's stock, valued at approximately $881,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KMT. Hsbc Holdings PLC lifted its position in shares of Kennametal by 211.2% during the 4th quarter. Hsbc Holdings PLC now owns 64,678 shares of the industrial products company's stock valued at $1,551,000 after acquiring an additional 43,896 shares during the period. MetLife Investment Management LLC lifted its position in shares of Kennametal by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 48,037 shares of the industrial products company's stock valued at $1,154,000 after acquiring an additional 2,763 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Kennametal by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock valued at $123,319,000 after acquiring an additional 101,159 shares during the period. First Trust Advisors LP lifted its position in shares of Kennametal by 36.4% during the 4th quarter. First Trust Advisors LP now owns 171,259 shares of the industrial products company's stock valued at $4,114,000 after acquiring an additional 45,746 shares during the period. Finally, Dean Investment Associates LLC lifted its position in shares of Kennametal by 31.6% during the 4th quarter. Dean Investment Associates LLC now owns 153,046 shares of the industrial products company's stock valued at $3,676,000 after acquiring an additional 36,749 shares during the period.

Analysts Set New Price Targets

KMT has been the subject of a number of recent analyst reports. Morgan Stanley cut 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. Barclays lowered their target price on Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, StockNews.com raised shares of Kennametal from a "hold" rating to a "buy" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $25.20.

Kennametal Trading Down 0.7 %

Shares of NYSE KMT traded down $0.14 during midday trading on Tuesday, reaching $19.21. The stock had a trading volume of 364,211 shares, compared to its average volume of 861,909. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. 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 company's 50 day moving average price is $20.62 and its 200 day moving average price is $23.83.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (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%. As a group, sell-side analysts expect that Kennametal Inc. will post 1.17 EPS for the current year.

Insider Transactions at Kennametal

In related news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was bought at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the purchase, the chief executive officer now directly owns 77,595 shares of the company's stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.41% of the company's stock.

About Kennametal

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.