Twinbeech Capital LP Makes New $410,000 Investment in Kennametal Inc. (NYSE:KMT)

Twinbeech Capital LP acquired a new position in Kennametal Inc. (NYSE:KMT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,068 shares of the industrial products company's stock, valued at approximately $410,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KMT. Blue Trust Inc. grew its holdings in Kennametal by 120.9% in 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 lifted its position in Kennametal by 214.2% in the fourth 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 during the period. Sterling Capital Management LLC lifted its position 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 purchasing an additional 2,181 shares during the period. KBC Group NV lifted its position in Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after purchasing an additional 1,122 shares during the period. Finally, Bank of Montreal Can lifted its position in Kennametal by 10.5% in the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock worth $227,000 after purchasing an additional 898 shares during the period.

Kennametal Price Performance

Shares of NYSE:KMT traded down $0.23 on Wednesday, reaching $21.51. 147,390 shares of the company traded hands, compared to its average volume of 877,684. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company's 50 day moving average is $20.24 and its 200-day moving average is $23.07. The stock has a market capitalization of $1.64 billion, a PE ratio of 17.62, a P/E/G 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 announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The company had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.72%. The ex-dividend date was Tuesday, May 13th. Kennametal's dividend payout ratio (DPR) is currently 57.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Barclays upped their target price on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $25.80.

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.