KLP Kapitalforvaltning AS Invests $336,000 in Kennametal Inc. (NYSE:KMT)

KLP Kapitalforvaltning AS acquired a new stake in shares of Kennametal Inc. (NYSE:KMT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,000 shares of the industrial products company’s stock, valued at approximately $336,000.

Several other large investors also recently added to or reduced their stakes in KMT. Sei Investments Co. raised its stake in shares of Kennametal by 1.8% during the fourth quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company’s stock valued at $831,000 after acquiring an additional 609 shares in the last quarter. American Century Companies Inc. increased its holdings in Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock worth $61,106,000 after purchasing an additional 308,000 shares during the period. Quantbot Technologies LP raised its position in Kennametal by 93.3% during the 4th quarter. Quantbot Technologies LP now owns 36,335 shares of the industrial products company’s stock valued at $873,000 after purchasing an additional 17,540 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Kennametal by 7.0% in the 4th quarter. Teacher Retirement System of Texas now owns 37,606 shares of the industrial products company’s stock worth $903,000 after buying an additional 2,459 shares during the period. Finally, Intech Investment Management LLC grew its position in shares of Kennametal by 54.1% during the 4th quarter. Intech Investment Management LLC now owns 33,001 shares of the industrial products company’s stock worth $793,000 after buying an additional 11,589 shares in the last quarter.

Wall Street Analysts Forecast Growth

KMT has been the subject of several recent research reports. Barclays decreased their price objective on Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Morgan Stanley reduced their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Finally, StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.40.

Insider Buying and Selling

In related news, CEO Sanjay Chowbey bought 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.41% of the stock is owned by company insiders.

Kennametal Price Performance

KMT opened at $19.10 on Friday. The firm has a market capitalization of $1.48 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. The business’s 50-day moving average is $22.11 and its two-hundred day moving average is $24.69. Kennametal Inc. has a 1 year low of $18.61 and a 1 year high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13.

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

Kennametal Dividend Announcement

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

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.