Proficio Capital Partners LLC Takes Position in Kennametal Inc. (NYSE:KMT)

Proficio Capital Partners LLC bought a new position in Kennametal Inc. (NYSE:KMT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,770 shares of the industrial products company's stock, valued at approximately $283,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd grew its position in shares of Kennametal by 14.4% during the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company's stock valued at $97,000 after acquiring an additional 472 shares during the period. Entropy Technologies LP bought a new stake in shares of Kennametal during the 3rd quarter worth $425,000. MQS Management LLC bought a new stake in Kennametal in the third quarter worth $437,000. Natixis Advisors LLC lifted its stake in Kennametal by 20.6% in the third quarter. Natixis Advisors LLC now owns 14,158 shares of the industrial products company's stock worth $367,000 after purchasing an additional 2,415 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of Kennametal by 2,429.9% in the third quarter. Quest Partners LLC now owns 46,929 shares of the industrial products company's stock valued at $1,217,000 after acquiring an additional 45,074 shares during the period.

Kennametal Trading Down 0.6 %

NYSE KMT opened at $21.96 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. The company's 50-day simple moving average is $23.13 and its two-hundred day simple moving average is $25.19. Kennametal Inc. has a one year low of $20.50 and a one year high of $32.18.

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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 (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%. Equities analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.64%. The ex-dividend date was Tuesday, February 11th. Kennametal's dividend payout ratio is presently 65.57%.

Insiders Place Their Bets

In other Kennametal news, CEO Sanjay Chowbey acquired 10,000 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was acquired 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 in the company, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KMT shares. Loop Capital boosted their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a "hold" rating in a research report on Tuesday, November 19th. Barclays set a $25.00 price target on shares of Kennametal and gave the stock an "equal weight" rating in a research report on Monday. StockNews.com raised shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, January 27th. Morgan Stanley lowered their price objective on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group lowered shares of Kennametal from a "buy" rating to a "hold" rating and lowered their target price for the stock from $40.00 to $32.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.60.

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.

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