Dynamic Technology Lab Private Ltd Purchases New Holdings in Kennametal Inc. (NYSE:KMT)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Kennametal Inc. (NYSE:KMT) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 31,002 shares of the industrial products company’s stock, valued at approximately $804,000.

A number of other hedge funds have also made changes to their positions in KMT. Quarry LP increased its position in shares of Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 704 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Kennametal during the 2nd quarter worth $28,000. Quest Partners LLC purchased a new stake in shares of Kennametal during the second quarter worth $44,000. Signaturefd LLC raised its position in shares of Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,008 shares during the last quarter. Finally, CWM LLC boosted its position in Kennametal by 46.7% during the second quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 970 shares during the last quarter.

Insider Activity

In related news, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the sale, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital lifted their price objective on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 19th. Barclays upped their target price on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

Kennametal Trading Down 0.1 %

KMT opened at $28.49 on Thursday. The stock has a market capitalization of $2.21 billion, a PE ratio of 22.27, a P/E/G ratio of 2.47 and a beta of 1.64. Kennametal Inc. has a one year low of $22.50 and a one year high of $32.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. The business’s 50 day moving average price is $26.62 and its 200 day moving average price is $25.40.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. As a group, equities research analysts expect that Kennametal Inc. will post 1.45 EPS for the current year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Tuesday, November 12th. Kennametal’s dividend payout ratio is presently 62.50%.

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.