Holocene Advisors LP Increases Holdings in Kennametal Inc. (NYSE:KMT)

Holocene Advisors LP grew its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 24.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,186 shares of the industrial products company's stock after acquiring an additional 18,432 shares during the quarter. Holocene Advisors LP owned about 0.12% of Kennametal worth $2,416,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quarry LP increased its holdings in Kennametal by 198.9% in the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company's stock worth $25,000 after buying an additional 704 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Kennametal during the second quarter valued at $28,000. Quest Partners LLC purchased a new stake in Kennametal during the second quarter valued at $44,000. Signaturefd LLC lifted its holdings in Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 1,008 shares during the period. Finally, CWM LLC boosted its position in Kennametal by 46.7% in the second quarter. CWM LLC now owns 3,049 shares of the industrial products company's stock worth $72,000 after purchasing an additional 970 shares during the last quarter.

Insider Activity

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the transaction, the vice president now owns 1,642 shares in the company, valued at $48,192.70. This trade represents a 51.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Franklin Cardenas sold 20,470 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the sale, the vice president now directly owns 39,581 shares in the company, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.41% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America cut shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price objective on the stock. in a research note on Friday, October 18th. StockNews.com downgraded shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Loop Capital boosted their price objective on shares of Kennametal from $24.00 to $26.00 and gave the company a "hold" rating in a research report on Tuesday, November 19th. Barclays upped their price objective on Kennametal from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group lowered Kennametal from a "buy" rating to a "hold" rating and cut their price target for the company from $40.00 to $32.00 in a report on Friday. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $26.17.

Kennametal Price Performance

Shares of KMT traded down $0.62 during trading hours on Friday, reaching $27.26. 843,806 shares of the stock traded hands, compared to its average volume of 716,381. The company has a market cap of $2.12 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.65. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The company's 50-day moving average price is $26.99 and its two-hundred day moving average price is $25.53. Kennametal Inc. has a 52-week low of $22.50 and a 52-week high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million for the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The business's revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, analysts anticipate that Kennametal Inc. will post 1.45 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal's dividend payout ratio (DPR) is currently 62.50%.

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.