Intech Investment Management LLC Acquires 11,589 Shares of Kennametal Inc. (NYSE:KMT)

Intech Investment Management LLC lifted its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 54.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 33,001 shares of the industrial products company's stock after buying an additional 11,589 shares during the quarter. Intech Investment Management LLC's holdings in Kennametal were worth $793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brandes Investment Partners LP lifted its position in Kennametal by 3.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company's stock worth $61,819,000 after acquiring an additional 78,149 shares during the last quarter. Amundi increased its stake in shares of Kennametal by 174.7% during the fourth 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. Raymond James Financial Inc. acquired a new stake in Kennametal during the 4th quarter worth approximately $373,000. Proficio Capital Partners LLC bought a new stake in Kennametal in the 4th quarter valued at $283,000. Finally, Atria Investments Inc grew its holdings in Kennametal by 7.6% in the 4th quarter. Atria Investments Inc now owns 27,658 shares of the industrial products company's stock valued at $664,000 after buying an additional 1,950 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KMT shares. Morgan Stanley dropped their target price on Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. Jefferies Financial Group downgraded shares of Kennametal from a "buy" rating to a "hold" rating and cut their price objective for the company from $40.00 to $32.00 in a report on Friday, December 6th. Barclays lowered their target price on shares of Kennametal from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Kennametal has an average rating of "Hold" and a consensus price target of $26.40.

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Kennametal Price Performance

Kennametal stock traded down $0.11 during trading hours on Thursday, reaching $21.95. 744,494 shares of the stock were exchanged, compared to its average volume of 782,524. The stock has a 50 day moving average of $22.57 and a two-hundred day moving average of $24.88. The company has a market cap of $1.70 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. 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 twelve month low of $20.50 and a twelve month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.76% and a return on equity of 8.12%. Equities analysts expect that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is presently 65.57%.

Insider Buying and Selling at Kennametal

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the purchase, the chief executive officer now owns 77,595 shares of the company's stock, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.41% of the company's stock.

About Kennametal

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.