New Age Alpha Advisors LLC Invests $274,000 in Kennametal Inc. (NYSE:KMT)

New Age Alpha Advisors LLC bought a new stake in Kennametal Inc. (NYSE:KMT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,412 shares of the industrial products company’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also modified their holdings of KMT. Charles Schwab Investment Management Inc. raised its position in Kennametal by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,423,495 shares of the industrial products company’s stock valued at $36,911,000 after purchasing an additional 67,392 shares during the last quarter. FMR LLC increased its stake in shares of Kennametal by 395.8% in the third quarter. FMR LLC now owns 16,561 shares of the industrial products company’s stock valued at $429,000 after buying an additional 13,221 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Kennametal by 2.2% in the third quarter. BNP Paribas Financial Markets now owns 90,793 shares of the industrial products company’s stock valued at $2,354,000 after buying an additional 1,975 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Kennametal by 1.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 171,373 shares of the industrial products company’s stock worth $4,444,000 after buying an additional 2,401 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Kennametal in the 3rd quarter valued at about $1,117,000.

Kennametal Price Performance

KMT opened at $21.39 on Wednesday. The company has a fifty day moving average price of $22.34 and a two-hundred day moving average price of $24.79. The firm has a market capitalization of $1.65 billion, a PE ratio of 17.53, a P/E/G ratio of 3.69 and a beta of 1.69. Kennametal Inc. has a 52 week low of $20.50 and a 52 week high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.74%. Kennametal’s dividend payout ratio (DPR) is presently 65.57%.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey bought 10,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KMT. Barclays reduced their target price on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Morgan Stanley decreased their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $32.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.40.

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.