Hsbc Holdings PLC Boosts Stock Holdings in Kennametal Inc. (NYSE:KMT)

Hsbc Holdings PLC lifted its holdings in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 211.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,678 shares of the industrial products company's stock after purchasing an additional 43,896 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Kennametal worth $1,551,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. MetLife Investment Management LLC increased its position in shares of Kennametal by 6.1% during the fourth 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 during the period. Dimensional Fund Advisors LP increased its holdings in Kennametal by 2.0% during the 4th 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 period. First Trust Advisors LP increased its holdings in Kennametal by 36.4% during the 4th 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 during the period. Dean Investment Associates LLC raised its position in Kennametal by 31.6% in the 4th quarter. Dean Investment Associates LLC now owns 153,046 shares of the industrial products company's stock valued at $3,676,000 after purchasing an additional 36,749 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Kennametal during the fourth quarter worth about $1,114,000.

Insider Activity at Kennametal

In related news, CEO Sanjay Chowbey bought 10,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were acquired at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is currently owned by insiders.

Kennametal Stock Performance

NYSE:KMT traded down $0.05 during mid-day trading on Wednesday, reaching $19.77. 386,995 shares of the stock were exchanged, compared to its average volume of 865,925. The stock has a market capitalization of $1.53 billion, a P/E ratio of 16.23, a P/E/G ratio of 3.69 and a beta of 1.39. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The company has a 50 day simple moving average of $20.32 and a 200-day simple moving average of $23.60. 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 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $489.30 million. During the same period in the previous year, the company posted $0.30 EPS. The company's quarterly revenue was down 5.7% on a year-over-year basis. Analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Tuesday, May 13th. Kennametal's dividend payout ratio is currently 65.57%.

Wall Street Analysts Forecast Growth

KMT has been the topic of a number of analyst reports. Barclays reduced 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. Morgan Stanley decreased their price target on Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, StockNews.com raised Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.20.

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.