18,851 Shares in Kennametal Inc. (NYSE:KMT) Bought by XTX Topco Ltd

XTX Topco Ltd bought a new position in Kennametal Inc. (NYSE:KMT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,851 shares of the industrial products company's stock, valued at approximately $489,000.

Several other institutional investors have also recently added to or reduced their stakes in KMT. Wellington Management Group LLP lifted its stake 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 valued at $162,105,000 after buying an additional 1,567,867 shares in the last quarter. Brandes Investment Partners LP lifted 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 valued at $54,798,000 after purchasing an additional 606,477 shares in the last quarter. Weiss Asset Management LP bought a new stake in Kennametal during the third quarter worth $10,295,000. American Century Companies Inc. raised its position in Kennametal by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,903,714 shares of the industrial products company's stock valued at $44,813,000 after buying an additional 321,876 shares during the last quarter. Finally, Interval Partners LP bought a new position in Kennametal during the 2nd quarter valued at $5,598,000.

Analysts Set New Price Targets

Several analysts have recently commented on KMT shares. Loop Capital increased their target price on shares of Kennametal from $24.00 to $26.00 and gave the company a "hold" rating in a report on Tuesday, November 19th. StockNews.com downgraded Kennametal from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Jefferies Financial Group downgraded Kennametal from a "buy" rating to a "hold" rating and decreased their price target for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, Bank of America downgraded shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price objective 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 given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.17.

Kennametal Stock Performance

KMT traded down $0.28 on Friday, hitting $26.68. The company's stock had a trading volume of 501,423 shares, compared to its average volume of 715,293. Kennametal Inc. has a 12 month low of $22.50 and a 12 month high of $32.18. The firm has a market cap of $2.07 billion, a P/E ratio of 20.84, a price-to-earnings-growth 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 company's 50 day simple moving average is $27.16 and its 200-day simple moving average is $25.59.

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

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal's dividend payout ratio is presently 62.50%.

Insider Buying and Selling at Kennametal

In related news, VP Franklin Cardenas sold 20,470 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the transaction, the vice president now directly owns 39,581 shares in the company, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Wayne Witt sold 1,765 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the transaction, the vice president now directly owns 1,642 shares in the company, valued at approximately $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.41% of the company's stock.

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.