HBK Investments L P Purchases New Position in Kennametal Inc. (NYSE:KMT)

HBK Investments L P acquired a new position in shares of Kennametal Inc. (NYSE:KMT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 39,770 shares of the industrial products company’s stock, valued at approximately $955,000. HBK Investments L P owned approximately 0.05% of Kennametal at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Barclays PLC raised its stake in Kennametal by 95.6% during the 3rd quarter. Barclays PLC now owns 163,670 shares of the industrial products company’s stock worth $4,244,000 after acquiring an additional 79,992 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Kennametal during the third quarter worth about $342,000. Sanctuary Advisors LLC lifted its holdings in shares of Kennametal by 19.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 22,402 shares of the industrial products company’s stock valued at $581,000 after purchasing an additional 3,627 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kennametal in the 3rd quarter valued at about $30,000. Finally, JPMorgan Chase & Co. increased its position in Kennametal by 48.8% during the third quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company’s stock worth $6,286,000 after buying an additional 79,547 shares during the period.

Kennametal Stock Up 3.3 %

Shares of NYSE:KMT opened at $19.69 on Friday. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $20.75 and its 200-day simple moving average is $23.93. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT) last released its earnings results 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%. As a group, equities research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Tuesday, February 11th. Kennametal’s dividend payout ratio (DPR) is 65.57%.

Analysts Set New Price Targets

Several research firms have recently weighed in on KMT. Barclays decreased their price objective on Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Morgan Stanley decreased their price target on shares of Kennametal from $24.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.20.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were acquired at an average price of $21.75 per share, with a total value of $217,500.00. Following the purchase, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.41% of the stock is owned by 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.