KLP Kapitalforvaltning AS Makes New Investment in Kennametal Inc. (NYSE:KMT)

KLP Kapitalforvaltning AS bought a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,000 shares of the industrial products company's stock, valued at approximately $336,000.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Kennametal by 45.9% in the fourth 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 in the last quarter. AMH Equity Ltd bought a new position in shares of Kennametal during the fourth quarter worth about $1,441,000. Amundi grew its stake in Kennametal by 174.7% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in Kennametal by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company's stock valued at $47,096,000 after buying an additional 17,265 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Kennametal by 113.7% during the third quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company's stock valued at $4,957,000 after buying an additional 101,711 shares in the last quarter.

Insider Activity at Kennametal

In related news, CEO Sanjay Chowbey acquired 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,595 shares of the company's stock, valued at $1,687,691.25. This trade represents a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.41% of the stock is owned by insiders.

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Analysts Set New Price Targets

Several research analysts have recently commented on KMT shares. Morgan Stanley decreased their target price on Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. Barclays lowered their target price on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, StockNews.com downgraded shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Kennametal has a consensus rating of "Hold" and an average target price of $26.00.

Kennametal Stock Performance

Shares of KMT traded down $0.80 during midday trading on Thursday, hitting $18.29. 1,678,999 shares of the stock traded hands, compared to its average volume of 850,580. The business's 50 day moving average price is $21.44 and its two-hundred day moving average price is $24.38. The firm has a market capitalization of $1.41 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is 65.57%.

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.