Dark Forest Capital Management LP Buys Shares of 36,658 Kennametal Inc. (NYSE:KMT)

Dark Forest Capital Management LP purchased a new stake in shares of Kennametal Inc. (NYSE:KMT) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 36,658 shares of the industrial products company’s stock, valued at approximately $881,000.

Several other institutional investors have also modified their holdings of KMT. Arrowstreet Capital Limited Partnership raised its holdings in Kennametal by 32.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock worth $11,270,000 after purchasing an additional 115,718 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 459 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Kennametal in the 4th quarter worth about $373,000. AMH Equity Ltd acquired a new stake in Kennametal in the 4th quarter valued at about $1,441,000. Finally, Amundi increased its holdings in Kennametal by 174.7% during the 4th quarter. Amundi now owns 40,359 shares of the industrial products company’s stock valued at $982,000 after acquiring an additional 25,666 shares in the last quarter.

Insider Transactions at Kennametal

In related news, CEO Sanjay Chowbey purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Kennametal from $24.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Barclays lowered their target price on Kennametal from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Finally, StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, Kennametal currently has an average rating of “Hold” and an average target price of $25.20.

Kennametal Stock Performance

Shares of KMT opened at $19.06 on Thursday. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The company’s 50 day simple moving average is $20.81 and its 200 day simple moving average is $23.97. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 3.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. On average, sell-side analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal’s dividend payout ratio is currently 65.57%.

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.