Headlands Technologies LLC Acquires 1,444 Shares of Kennametal Inc. (NYSE:KMT)

Headlands Technologies LLC boosted its holdings in shares of Kennametal Inc. (NYSE:KMT) by 214.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,118 shares of the industrial products company’s stock after purchasing an additional 1,444 shares during the quarter. Headlands Technologies LLC’s holdings in Kennametal were worth $51,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal in the third quarter valued at approximately $30,000. Blue Trust Inc. raised its stake in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares during the last quarter. GAMMA Investing LLC grew its position in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the last quarter. KBC Group NV increased its holdings in shares of Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 1,122 shares during the period. Finally, Centiva Capital LP acquired a new position in shares of Kennametal during the third quarter valued at about $230,000.

Kennametal Trading Down 5.9 %

Shares of KMT opened at $17.98 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.39 billion, a PE ratio of 14.73, a PEG ratio of 3.69 and a beta of 1.55. Kennametal Inc. has a 1 year low of $17.68 and a 1 year high of $32.18. The stock has a 50 day simple moving average of $22.00 and a 200-day simple moving average of $24.62.

Kennametal (NYSE:KMT) last issued its quarterly earnings data 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 net margin of 4.76% and a return on equity of 8.12%. On average, sell-side analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 annualized dividend and a yield of 4.45%. Kennametal’s dividend payout ratio is 65.57%.

Insider Transactions at Kennametal

In other Kennametal news, CEO Sanjay Chowbey acquired 10,000 shares of Kennametal stock in a transaction on Tuesday, February 11th. The shares were bought at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. This trade represents 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 the SEC website. Company insiders own 1.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KMT shares. Barclays decreased their target price on Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Morgan Stanley lowered their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Finally, StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Kennametal has a consensus rating of “Hold” and a consensus price target of $26.40.

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.