Kennametal Inc. (NYSE:KMT) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its position in Kennametal Inc. (NYSE:KMT - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 469,202 shares of the industrial products company's stock after purchasing an additional 115,718 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.60% of Kennametal worth $11,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of 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 period. AMH Equity Ltd acquired a new position in shares of Kennametal in the 4th quarter valued at $1,441,000. Amundi lifted its stake in shares of Kennametal by 174.7% in the 4th quarter. Amundi now owns 40,359 shares of the industrial products company's stock valued at $982,000 after purchasing an additional 25,666 shares during the period. Geode Capital Management LLC raised its position in Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company's stock worth $47,096,000 after acquiring an additional 17,265 shares during the period. Finally, Jane Street Group LLC raised its position in Kennametal by 113.7% during the third quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company's stock worth $4,957,000 after acquiring an additional 101,711 shares during the period.

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Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. StockNews.com cut shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Barclays reduced their price objective on shares of Kennametal from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.40.

Insider Activity at Kennametal

In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal 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 transaction, the chief executive officer now owns 77,595 shares of the company's stock, valued at $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.41% of the stock is currently owned by insiders.

Kennametal Price Performance

Shares of Kennametal stock traded down $0.63 during trading hours on Thursday, reaching $18.46. 98,453 shares of the company's stock were exchanged, compared to its average volume of 842,780. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The company has a market capitalization of $1.43 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. The business has a fifty day moving average of $21.54 and a two-hundred day moving average of $24.43. 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 released 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, research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Tuesday, February 11th. Kennametal's dividend payout ratio is currently 65.57%.

Kennametal Company 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.