Dimensional Fund Advisors LP Purchases 101,159 Shares of Kennametal Inc. (NYSE:KMT)

Dimensional Fund Advisors LP raised its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,134,051 shares of the industrial products company's stock after purchasing an additional 101,159 shares during the period. Dimensional Fund Advisors LP owned about 6.60% of Kennametal worth $123,319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Kennametal by 32.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock valued at $11,270,000 after buying an additional 115,718 shares during the period. Raymond James Financial Inc. bought a new position in Kennametal during the 4th quarter worth about $373,000. GAMMA Investing LLC increased its position in Kennametal by 45.9% during 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 bought a new stake in shares of Kennametal in the 4th quarter valued at about $1,441,000. Finally, Amundi lifted its position in shares of Kennametal by 174.7% in the 4th quarter. Amundi now owns 40,359 shares of the industrial products company's stock worth $982,000 after purchasing an additional 25,666 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on KMT shares. StockNews.com downgraded shares of Kennametal from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. 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 report on Wednesday, April 16th. Finally, Barclays decreased their price objective 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 and five have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $25.20.

Kennametal Price Performance

NYSE KMT opened at $19.42 on Friday. The firm's fifty day simple moving average is $20.69 and its two-hundred day simple moving average is $23.88. The firm has a market capitalization of $1.50 billion, a P/E ratio of 15.91, a P/E/G ratio of 3.69 and a beta of 1.55. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share 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%. Analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is presently 65.57%.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.41% of the stock is owned by 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.

Want to see what other hedge funds are holding KMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kennametal Inc. (NYSE:KMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.