HBK Investments L P Takes Position in Kennametal Inc. (NYSE:KMT)

HBK Investments L P purchased a new position in Kennametal Inc. (NYSE:KMT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 39,770 shares of the industrial products company's stock, valued at approximately $955,000. HBK Investments L P owned 0.05% of Kennametal at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KMT. GAMMA Investing LLC raised its holdings 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 acquiring an additional 459 shares during the period. Sei Investments Co. raised its holdings in Kennametal by 1.8% during the 4th quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock valued at $831,000 after acquiring an additional 609 shares during the period. Inspire Investing LLC raised its holdings in Kennametal by 3.8% during the 4th quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock valued at $445,000 after acquiring an additional 672 shares during the period. Blue Trust Inc. raised its holdings in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares during the period. Finally, Bank of Montreal Can raised its holdings in Kennametal by 10.5% during the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 898 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KMT. Barclays decreased their price target 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. StockNews.com cut shares of Kennametal from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Finally, Morgan Stanley reduced their target price on Kennametal from $24.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat, Kennametal currently has an average rating of "Hold" and a consensus target price of $25.20.

Kennametal Trading Down 0.5 %

Shares of NYSE:KMT traded down $0.10 on Monday, reaching $19.34. 794,307 shares of the company traded hands, compared to its average volume of 863,827. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The business's 50-day simple moving average is $20.62 and its 200 day simple moving average is $23.83. The stock has a market capitalization of $1.50 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly 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 net margin of 4.76% and a return on equity of 8.12%. As a group, equities analysts anticipate 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. Shareholders of record on Tuesday, February 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is 65.57%.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey acquired 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.41% of the company's stock.

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.