HBK Investments L P Purchases Shares of 39,770 Kennametal Inc. (NYSE:KMT)

HBK Investments L P bought a new stake in Kennametal Inc. (NYSE:KMT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 39,770 shares of the industrial products company's stock, valued at approximately $955,000. HBK Investments L P owned about 0.05% of Kennametal as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 459 shares during the last quarter. Sei Investments Co. lifted its stake in Kennametal by 1.8% in the 4th quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock valued at $831,000 after purchasing an additional 609 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Kennametal by 3.8% during the fourth quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock worth $445,000 after acquiring an additional 672 shares during the period. Blue Trust Inc. lifted its holdings in 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 purchasing an additional 716 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Kennametal by 10.5% in the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 898 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KMT. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research note on Monday. Morgan Stanley reduced their price target on Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays reduced their price target 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Kennametal has an average rating of "Hold" and an average price target of $25.20.

Kennametal Price Performance

KMT traded down $0.04 on Wednesday, reaching $19.36. The stock had a trading volume of 182,423 shares, compared to its average volume of 862,774. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The firm has a 50-day moving average of $20.56 and a 200-day moving average of $23.80. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT - Get Free Report) last issued its 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 anticipate that Kennametal Inc. will post 1.17 EPS for the current year.

Insider Activity at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the transaction, the chief executive officer now directly owns 77,595 shares in the company, 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 hyperlink. 1.41% of the stock is owned by corporate insiders.

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.