Jane Street Group LLC Purchases 101,711 Shares of Kennametal Inc. (NYSE:KMT)

Jane Street Group LLC raised its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 113.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 191,151 shares of the industrial products company's stock after buying an additional 101,711 shares during the period. Jane Street Group LLC owned approximately 0.25% of Kennametal worth $4,957,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in shares of Kennametal by 33.5% in the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company's stock worth $162,105,000 after buying an additional 1,567,867 shares during the period. Brandes Investment Partners LP boosted its holdings in shares of Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company's stock worth $54,798,000 after buying an additional 606,477 shares during the period. Weiss Asset Management LP acquired a new position in shares of Kennametal in the third quarter worth about $10,295,000. American Century Companies Inc. boosted its holdings in shares of Kennametal by 20.3% in the second quarter. American Century Companies Inc. now owns 1,903,714 shares of the industrial products company's stock worth $44,813,000 after buying an additional 321,876 shares during the period. Finally, Interval Partners LP acquired a new position in shares of Kennametal in the second quarter worth about $5,598,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KMT. StockNews.com cut shares of Kennametal from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Morgan Stanley raised their price target on shares of Kennametal from $24.50 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday. Jefferies Financial Group cut shares of Kennametal from a "buy" rating to a "hold" rating and decreased their price target for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Loop Capital raised their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a report on Tuesday, November 19th. Finally, Bank of America cut shares of 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. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $26.83.

Kennametal Stock Performance

Shares of NYSE:KMT traded down $0.04 during trading on Tuesday, reaching $26.49. The stock had a trading volume of 730,353 shares, compared to its average volume of 714,987. Kennametal Inc. has a 52 week low of $22.50 and a 52 week high of $32.18. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 2.29 and a beta of 1.65. 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 stock has a fifty day simple moving average of $27.19 and a two-hundred day simple moving average of $25.60.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. During the same quarter last year, the firm posted $0.41 earnings per share. The company's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts anticipate that Kennametal Inc. will post 1.44 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal's dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Kennametal

In related news, VP John Wayne Witt sold 1,765 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the transaction, the vice president now owns 1,642 shares in the company, valued at $48,192.70. This represents a 51.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the transaction, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. 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.