AMH Equity Ltd Makes New Investment in Kennametal Inc. (NYSE:KMT)

AMH Equity Ltd bought a new stake in Kennametal Inc. (NYSE:KMT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 60,000 shares of the industrial products company’s stock, valued at approximately $1,441,000. Kennametal makes up 1.4% of AMH Equity Ltd’s holdings, making the stock its 18th largest position.

A number of other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in Kennametal in the fourth quarter valued at $59,207,000. Wellington Management Group LLP increased its position in shares of Kennametal by 33.5% during the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock worth $162,105,000 after purchasing an additional 1,567,867 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Kennametal in the 3rd quarter valued at about $10,295,000. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Kennametal by 141.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 258,910 shares of the industrial products company’s stock valued at $6,714,000 after purchasing an additional 151,480 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Kennametal by 1,235.5% in the 3rd quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company’s stock valued at $3,284,000 after purchasing an additional 117,162 shares during the period.

Kennametal Stock Down 0.2 %

KMT stock opened at $22.25 on Thursday. Kennametal Inc. has a one year low of $20.50 and a one year high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The company has a fifty day moving average of $23.55 and a 200-day moving average of $25.36. The stock has a market capitalization of $1.72 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 3.69 and a beta of 1.66.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share 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%. As a group, analysts expect that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. Kennametal’s dividend payout ratio (DPR) is presently 65.57%.

Insider Activity

In other news, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Chowbey bought 10,000 shares of the company’s stock in a transaction on 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 completion of the acquisition, 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. Insiders own 1.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.