Dynamic Technology Lab Private Ltd Buys Shares of 31,002 Kennametal Inc. (NYSE:KMT)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Kennametal Inc. (NYSE:KMT) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 31,002 shares of the industrial products company’s stock, valued at approximately $804,000.

Several other hedge funds have also modified their holdings of KMT. Covestor Ltd grew its position in shares of Kennametal by 14.4% in the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock worth $97,000 after buying an additional 472 shares during the last quarter. Quarry LP grew its holdings in Kennametal by 198.9% in 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 during the last quarter. CWM LLC increased its position in shares of 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 purchasing an additional 970 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,008 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Kennametal by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,877 shares of the industrial products company’s stock valued at $1,033,000 after purchasing an additional 1,016 shares during the last quarter.

Kennametal Stock Down 0.1 %

NYSE:KMT opened at $28.49 on Thursday. The firm has a market capitalization of $2.21 billion, a P/E ratio of 22.27, a PEG ratio of 2.47 and a beta of 1.64. The company’s fifty day moving average price is $26.62 and its 200-day moving average price is $25.40. Kennametal Inc. has a 1-year low of $22.50 and a 1-year high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16.

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

Kennametal Announces Dividend

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

Insider Transactions at Kennametal

In related news, VP John Wayne Witt sold 1,765 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on KMT shares. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research report on Friday, October 18th. Loop Capital lifted their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, November 19th. Barclays raised their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, Kennametal presently has a consensus rating of “Hold” and an average price target of $25.00.

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.