Rhumbline Advisers Acquires 14,936 Shares of Kennametal Inc. (NYSE:KMT)

Rhumbline Advisers grew its stake in shares of Kennametal Inc. (NYSE:KMT) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 265,241 shares of the industrial products company’s stock after acquiring an additional 14,936 shares during the period. Rhumbline Advisers’ holdings in Kennametal were worth $6,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Kennametal in the 3rd quarter valued at $30,000. Blue Trust Inc. lifted its position in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 716 shares during the period. GAMMA Investing LLC lifted its position in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 459 shares during the period. Signaturefd LLC grew its stake in 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, KBC Group NV increased its holdings in shares of Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 1,122 shares during the period.

Kennametal Trading Down 0.2 %

Kennametal stock opened at $22.25 on Thursday. The firm has a market cap of $1.72 billion, a PE ratio of 18.24, a P/E/G ratio of 3.69 and a beta of 1.66. Kennametal Inc. has a 12 month low of $20.50 and a 12 month high of $32.18. The stock’s 50 day simple moving average is $23.55 and its two-hundred day simple moving average is $25.36. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last announced its quarterly earnings results 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%. Analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.20 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. Kennametal’s payout ratio is 65.57%.

Analysts Set New Price Targets

KMT has been the subject of a number of research reports. Loop Capital lifted their target price on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Morgan Stanley decreased their price objective on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Barclays dropped their price objective on shares of Kennametal from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Finally, StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.00.

Insiders Place Their Bets

In other news, VP Franklin Cardenas sold 20,470 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the sale, the vice president now owns 39,581 shares of the company’s stock, valued at $1,117,767.44. The trade was a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Chowbey purchased 10,000 shares of the firm’s 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 completion of the purchase, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This represents a 14.79 % increase in their position. The disclosure for this purchase can be found here. 1.41% of the stock is currently owned by company insiders.

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.