Intech Investment Management LLC Makes New Investment in Kennametal Inc. (NYSE:KMT)

Intech Investment Management LLC bought a new stake in Kennametal Inc. (NYSE:KMT - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 21,412 shares of the industrial products company's stock, valued at approximately $555,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Kennametal by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,385 shares of the industrial products company's stock worth $1,058,000 after purchasing an additional 2,519 shares during the period. First Hawaiian Bank acquired a new position in Kennametal in the 2nd quarter valued at about $482,000. CWM LLC lifted its position in Kennametal by 46.7% during the second quarter. CWM LLC now owns 3,049 shares of the industrial products company's stock worth $72,000 after acquiring an additional 970 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Kennametal by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 1,270,285 shares of the industrial products company's stock worth $29,903,000 after acquiring an additional 48,638 shares during the period. Finally, Azarias Capital Management L.P. grew its position in shares of Kennametal by 34.9% in the second quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company's stock valued at $6,106,000 after purchasing an additional 67,139 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KMT. Bank of America cut Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price target for the company. in a report on Friday, October 18th. Barclays upped their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. 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 report on Tuesday, November 19th. Finally, StockNews.com cut shares of Kennametal from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.00.

Kennametal Price Performance

Shares of NYSE:KMT traded up $0.37 during midday trading on Monday, hitting $29.07. The stock had a trading volume of 613,672 shares, compared to its average volume of 717,435. The company's 50-day moving average price is $26.78 and its 200-day moving average price is $25.45. Kennametal Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $32.18. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.26 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.41 and a beta of 1.64.

Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm had revenue of $481.90 million for the quarter, compared to the consensus estimate of $485.26 million. During the same quarter last year, the business posted $0.41 EPS. The company's revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts predict that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. Kennametal's dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, VP John Wayne Witt sold 1,765 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were 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 of the company's stock, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.41% of the stock is currently owned by corporate insiders.

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.