Kennametal Inc. (NYSE:KMT) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC grew its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,860 shares of the industrial products company's stock after buying an additional 19,285 shares during the period. Legato Capital Management LLC owned approximately 0.08% of Kennametal worth $1,558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal in the 3rd quarter worth approximately $30,000. Blue Trust Inc. increased its position in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC increased its position in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 459 shares during the period. Signaturefd LLC increased its position in Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 1,008 shares during the period. Finally, KBC Group NV increased its position in Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 1,122 shares during the period.

Insider Buying and Selling at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 1,642 shares of the company's stock, valued at $48,192.70. This trade represents a 51.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Chowbey bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares of the company's stock, valued at $1,687,691.25. This represents a 14.79 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.41% of the company's stock.

Kennametal Stock Performance

Shares of NYSE:KMT traded up $0.05 during trading on Friday, hitting $22.52. The company's stock had a trading volume of 778,102 shares, compared to its average volume of 950,510. The company has a 50-day moving average of $24.23 and a 200-day moving average of $25.49. Kennametal Inc. has a 12 month low of $20.50 and a 12 month high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.16. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 2.57 and a beta of 1.66.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. On average, sell-side analysts expect that Kennametal Inc. will post 1.18 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is currently 65.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Kennametal from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Friday. Morgan Stanley cut their price objective on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Jefferies Financial Group cut shares of Kennametal from a "buy" rating to a "hold" rating and lowered their target price for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Loop Capital upped their target price on shares of Kennametal from $24.00 to $26.00 and gave the company a "hold" rating in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded shares of 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 assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Kennametal currently has an average rating of "Hold" and an average price target of $27.00.

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.