Hsbc Holdings PLC lifted its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 211.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,678 shares of the industrial products company's stock after buying an additional 43,896 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Kennametal worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. MetLife Investment Management LLC grew its holdings in Kennametal by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 48,037 shares of the industrial products company's stock worth $1,154,000 after acquiring an additional 2,763 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kennametal by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock worth $123,319,000 after purchasing an additional 101,159 shares during the last quarter. First Trust Advisors LP grew its stake in Kennametal by 36.4% in the fourth quarter. First Trust Advisors LP now owns 171,259 shares of the industrial products company's stock worth $4,114,000 after purchasing an additional 45,746 shares in the last quarter. Dean Investment Associates LLC increased its holdings in Kennametal by 31.6% in the fourth quarter. Dean Investment Associates LLC now owns 153,046 shares of the industrial products company's stock valued at $3,676,000 after buying an additional 36,749 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Kennametal during the fourth quarter valued at approximately $1,114,000.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. Barclays decreased their price objective on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on shares of Kennametal from $24.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $25.20.
View Our Latest Analysis on Kennametal
Kennametal Stock Performance
NYSE KMT traded down $0.16 during trading hours on Monday, hitting $19.96. The company had a trading volume of 659,134 shares, compared to its average volume of 865,402. The firm has a market cap of $1.54 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The business has a fifty day simple moving average of $20.41 and a 200-day simple moving average of $23.66. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. 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 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%. Equities analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.
Kennametal Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 4.01%. Kennametal's dividend payout ratio is currently 65.57%.
Insider Activity
In related news, CEO Sanjay Chowbey bought 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.41% of the company's stock.
Kennametal Profile
(
Free Report)
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.
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