40,059 Shares in Kennametal Inc. (NYSE:KMT) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new stake in Kennametal Inc. (NYSE:KMT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 40,059 shares of the industrial products company's stock, valued at approximately $962,000. Neo Ivy Capital Management owned about 0.05% of Kennametal as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. lifted its position 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 in the last quarter. Headlands Technologies LLC raised its stake in shares of Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 1,444 shares during the last quarter. Sterling Capital Management LLC raised its stake in Kennametal by 801.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock worth $59,000 after buying an additional 2,181 shares in the last quarter. KBC Group NV boosted its holdings in shares of Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock valued at $80,000 after buying an additional 1,122 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Kennametal by 10.5% during the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after buying an additional 898 shares during the last quarter.

Kennametal Stock Up 0.7%

Shares of Kennametal stock traded up $0.14 during trading hours on Thursday, hitting $21.66. The company had a trading volume of 242,007 shares, compared to its average volume of 879,240. The company's 50-day moving average is $20.24 and its two-hundred day moving average is $23.06. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The company has a market cap of $1.65 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13.

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

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.69%. Kennametal's dividend payout ratio is presently 57.55%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Barclays lifted their price target on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $25.80.

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.