Duality Advisers LP Purchases Shares of 11,541 Kennametal Inc. (NYSE:KMT)

Duality Advisers LP acquired a new position in shares of Kennametal Inc. (NYSE:KMT) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 11,541 shares of the industrial products company’s stock, valued at approximately $298,000.

Several other institutional investors have also modified their holdings of KMT. SG Americas Securities LLC lifted its position in Kennametal by 635.2% in the third quarter. SG Americas Securities LLC now owns 72,523 shares of the industrial products company’s stock valued at $1,804,000 after acquiring an additional 62,659 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Kennametal by 20.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,795 shares of the industrial products company’s stock valued at $393,000 after purchasing an additional 2,705 shares during the period. Mackenzie Financial Corp increased its stake in Kennametal by 3.5% in the third quarter. Mackenzie Financial Corp now owns 15,223 shares of the industrial products company’s stock valued at $371,000 after purchasing an additional 513 shares during the period. Inspire Investing LLC increased its stake in Kennametal by 11.5% in the third quarter. Inspire Investing LLC now owns 12,305 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 1,265 shares during the period. Finally, Gradient Investments LLC acquired a new position in Kennametal in the third quarter valued at $96,000.

Kennametal Trading Up 1.2 %

Shares of KMT opened at $24.04 on Friday. The company has a current ratio of 2.44, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average is $24.39 and its two-hundred day moving average is $24.33. Kennametal Inc. has a twelve month low of $22.08 and a twelve month high of $30.60. The firm has a market capitalization of $1.91 billion, a P/E ratio of 16.03, a PEG ratio of 3.19 and a beta of 1.78.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. Kennametal had a net margin of 5.86% and a return on equity of 9.94%. The company had revenue of $495.30 million for the quarter, compared to analyst estimates of $498.99 million. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts predict that Kennametal Inc. will post 1.49 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a dividend of $0.20 per share. The ex-dividend date was Monday, February 12th. This represents a $0.80 annualized dividend and a yield of 3.33%. Kennametal’s payout ratio is currently 53.33%.

Kennametal declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on KMT. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Barclays dropped their price target on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Finally, Morgan Stanley began coverage on shares of Kennametal in a research note on Monday, January 8th. They set an “equal weight” rating and a $24.00 price target on the stock. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, Kennametal has an average rating of “Hold” and an average target price of $24.58.

Insiders Place Their Bets

In other Kennametal news, VP John Wayne Witt sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $25.55, for a total value of $25,550.00. Following the sale, the vice president now owns 1,343 shares of the company’s stock, valued at $34,313.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.61% of the stock is currently owned by company insiders.

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.