Duality Advisers LP Buys Shares of 11,541 Kennametal Inc. (NYSE:KMT)

Duality Advisers LP bought a new stake in shares of Kennametal Inc. (NYSE:KMT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,541 shares of the industrial products company’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in shares of Kennametal by 3.5% in the 3rd quarter. Mackenzie Financial Corp now owns 15,223 shares of the industrial products company’s stock worth $371,000 after purchasing an additional 513 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Kennametal by 2.9% in the 3rd quarter. Federated Hermes Inc. now owns 18,750 shares of the industrial products company’s stock worth $466,000 after purchasing an additional 521 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Kennametal by 119.6% in the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 603 shares in the last quarter. Swiss National Bank raised its holdings in shares of Kennametal by 0.7% in the 3rd quarter. Swiss National Bank now owns 167,600 shares of the industrial products company’s stock worth $4,170,000 after purchasing an additional 1,100 shares in the last quarter. Finally, CWM LLC raised its holdings 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 worth $46,000 after purchasing an additional 1,160 shares in the last quarter.

Kennametal Stock Performance

Shares of KMT opened at $24.04 on Friday. The company’s 50 day moving average price is $24.39 and its 200 day moving average price is $24.33. Kennametal Inc. has a 52 week low of $22.08 and a 52 week high of $30.60. The company has a market capitalization of $1.91 billion, a PE ratio of 16.03, a PEG ratio of 3.19 and a beta of 1.78. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 2.44.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $495.30 million for the quarter, compared to the consensus estimate of $498.99 million. Kennametal had a net margin of 5.86% and a return on equity of 9.94%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. Research analysts expect that Kennametal Inc. will post 1.49 EPS for the current fiscal year.

Kennametal announced that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.33%. The ex-dividend date was Monday, February 12th. Kennametal’s dividend payout ratio is 53.33%.

Insiders Place Their Bets

In other Kennametal news, VP John Wayne Witt sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $25.55, for a total value of $25,550.00. Following the completion of the sale, the vice president now directly owns 1,343 shares of the company’s stock, valued at $34,313.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on KMT shares. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Barclays cut their price target on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. Morgan Stanley assumed coverage on shares of Kennametal in a report on Monday, January 8th. They set an “equal weight” rating and a $24.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, Kennametal currently has a consensus rating of “Hold” and a consensus target price of $24.58.

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.