60,000 Shares in Kennametal Inc. (NYSE:KMT) Purchased by AMH Equity Ltd

AMH Equity Ltd acquired a new stake in shares of Kennametal Inc. (NYSE:KMT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 60,000 shares of the industrial products company’s stock, valued at approximately $1,441,000. Kennametal comprises 1.4% of AMH Equity Ltd’s holdings, making the stock its 18th largest position. AMH Equity Ltd owned about 0.08% of Kennametal at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Kennametal by 33.5% in the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after buying an additional 1,567,867 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Kennametal during the fourth quarter worth about $59,207,000. Geode Capital Management LLC raised its position in shares of Kennametal by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock valued at $47,096,000 after buying an additional 17,265 shares during the period. Charles Schwab Investment Management Inc. raised its position in Kennametal by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,423,495 shares of the industrial products company’s stock valued at $36,911,000 after purchasing an additional 67,392 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in Kennametal in the 3rd quarter valued at about $10,295,000.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey bought 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the sale, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KMT has been the subject of several research analyst reports. Loop Capital increased their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, November 19th. Barclays lowered their price objective on shares of Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $32.00 in a research report on Friday, December 6th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Finally, Morgan Stanley dropped their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. One equities research 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, Kennametal presently has an average rating of “Hold” and a consensus price target of $27.00.

Kennametal Stock Performance

NYSE:KMT opened at $22.25 on Thursday. Kennametal Inc. has a 52 week low of $20.50 and a 52 week high of $32.18. The company has a fifty day simple moving average of $23.55 and a two-hundred day simple moving average of $25.36. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 3.69 and a beta of 1.66.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate 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, equities analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.60%. Kennametal’s payout ratio is 65.57%.

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.