Dean Capital Management Increases Position in Kennametal Inc. (NYSE:KMT)

Dean Capital Management lifted its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 44.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 103,146 shares of the industrial products company's stock after acquiring an additional 31,639 shares during the quarter. Kennametal makes up approximately 1.1% of Dean Capital Management's holdings, making the stock its 16th biggest holding. Dean Capital Management owned about 0.13% of Kennametal worth $2,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. acquired a new stake in Kennametal in the fourth quarter valued at approximately $59,207,000. American Century Companies Inc. boosted its stake in Kennametal by 13.8% in the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock valued at $61,106,000 after acquiring an additional 308,000 shares in the last quarter. Norges Bank acquired a new stake in Kennametal in the fourth quarter valued at approximately $5,543,000. Arrowstreet Capital Limited Partnership boosted its stake in Kennametal by 32.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock valued at $11,270,000 after acquiring an additional 115,718 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Kennametal by 2.0% in the fourth 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 in the last quarter.

Analyst Ratings Changes

KMT has been the subject of several recent analyst reports. StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Barclays dropped their price objective on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, Morgan Stanley raised their target price on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Kennametal has a consensus rating of "Hold" and an average target price of $25.40.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the acquisition, the chief executive officer now directly owns 77,595 shares of the company's stock, valued at approximately $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 currently owned by company insiders.

Kennametal Price Performance

Shares of NYSE KMT traded up $1.05 during trading on Monday, hitting $21.85. The company had a trading volume of 399,366 shares, compared to its average volume of 868,343. The stock has a fifty day simple moving average of $20.25 and a two-hundred day simple moving average of $23.48. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The business had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same quarter last year, the business earned $0.30 earnings per share. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.66%. Kennametal's payout ratio is presently 57.55%.

Kennametal Company 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.