nVerses Capital LLC Buys Shares of 4,800 Kennametal Inc. (NYSE:KMT)

nVerses Capital LLC purchased a new stake in Kennametal Inc. (NYSE:KMT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,800 shares of the industrial products company’s stock, valued at approximately $113,000.

A number of other institutional investors also recently modified their holdings of the business. Headlands Technologies LLC bought a new position in Kennametal in the 1st quarter valued at approximately $32,000. First United Bank & Trust acquired a new position in Kennametal during the 4th quarter worth about $45,000. CWM LLC grew its position in shares of Kennametal by 191.1% in the 4th quarter. CWM LLC now owns 1,767 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,160 shares during the last quarter. EntryPoint Capital LLC increased its stake in shares of Kennametal by 2,552.0% in the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after buying an additional 2,603 shares during the period. Finally, Covestor Ltd raised its position in shares of Kennametal by 77.3% during the first quarter. Covestor Ltd now owns 3,060 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 1,334 shares during the last quarter.

Kennametal Trading Down 2.6 %

KMT opened at $25.21 on Wednesday. Kennametal Inc. has a 1-year low of $22.08 and a 1-year high of $27.04. The company has a market cap of $1.98 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 2.74 and a beta of 1.66. The company has a fifty day moving average price of $24.58 and a two-hundred day moving average price of $24.60. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The firm had revenue of $543.31 million during the quarter, compared to the consensus estimate of $532.72 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts predict that Kennametal Inc. will post 1.51 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Tuesday, August 13th. Kennametal’s dividend payout ratio (DPR) is 59.26%.

Insider Activity

In other Kennametal news, CEO Sanjay Chowbey bought 5,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $24.28 per share, for a total transaction of $121,400.00. Following the acquisition, the chief executive officer now directly owns 49,270 shares of the company’s stock, valued at approximately $1,196,275.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Loop Capital increased their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Finally, Barclays boosted their target price on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.17.

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.