Bryce Point Capital LLC Invests $484,000 in Kennametal Inc. (NYSE:KMT)

Bryce Point Capital LLC acquired a new stake in Kennametal Inc. (NYSE:KMT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,137 shares of the industrial products company’s stock, valued at approximately $484,000.

Several other large investors also recently modified their holdings of the company. Headlands Technologies LLC boosted its position in Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 1,444 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Kennametal by 8.5% in the 4th quarter. Alliancebernstein L.P. now owns 94,154 shares of the industrial products company’s stock valued at $2,262,000 after purchasing an additional 7,400 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Kennametal by 21.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,229 shares of the industrial products company’s stock valued at $270,000 after purchasing an additional 1,977 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock valued at $11,270,000 after purchasing an additional 115,718 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Kennametal during the fourth quarter worth approximately $274,000.

Insider Transactions at Kennametal

In other news, CEO Sanjay Chowbey bought 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the purchase, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.41% of the company’s stock.

Kennametal Price Performance

Shares of KMT opened at $19.10 on Friday. The business’s fifty day moving average is $22.11 and its 200 day moving average is $24.70. Kennametal Inc. has a 12-month low of $18.61 and a 12-month high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.48 billion, a P/E ratio of 15.66, a P/E/G ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Sell-side analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Tuesday, February 11th. Kennametal’s dividend payout ratio is currently 65.57%.

Wall Street Analyst Weigh In

KMT has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $32.00 in a research report on Friday, December 6th. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a report on Monday, March 31st. Finally, Barclays decreased their price target on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. One equities 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.40.

About Kennametal

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.