Dean Investment Associates LLC Increases Position in Kennametal Inc. (NYSE:KMT)

Dean Investment Associates LLC lifted its position in Kennametal Inc. (NYSE:KMT) by 12.3% in the third quarter, Holdings Channel reports. The firm owned 116,297 shares of the industrial products company’s stock after buying an additional 12,736 shares during the period. Dean Investment Associates LLC’s holdings in Kennametal were worth $3,016,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quarry LP raised its stake in Kennametal by 198.9% in the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after buying an additional 704 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Kennametal in the 2nd quarter valued at $28,000. Quest Partners LLC acquired a new position in shares of Kennametal in the 2nd quarter valued at $44,000. Signaturefd LLC increased its position in shares of Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,008 shares during the period. Finally, CWM LLC increased its position in shares of Kennametal by 46.7% in the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 970 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Loop Capital upped their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 19th. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $32.00 in a research report on Friday. Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research report on Friday, October 18th. Finally, StockNews.com downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.17.

Kennametal Trading Down 2.2 %

KMT stock opened at $27.26 on Monday. The company’s 50-day simple moving average is $27.01 and its 200-day simple moving average is $25.52. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a 52-week low of $22.50 and a 52-week high of $32.18. The firm has a market cap of $2.12 billion, a P/E ratio of 21.30, a PEG ratio of 2.29 and a beta of 1.65.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The business had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts forecast that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Tuesday, November 12th. Kennametal’s dividend payout ratio is presently 62.50%.

Insider Activity at Kennametal

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the sale, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Wayne Witt sold 1,765 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the sale, the vice president now owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by corporate insiders.

Kennametal Company Profile

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.