EntryPoint Capital LLC Sells 1,087 Shares of Kennametal Inc. (NYSE:KMT)

EntryPoint Capital LLC trimmed its stake in shares of Kennametal Inc. (NYSE:KMT) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,860 shares of the industrial products company’s stock after selling 1,087 shares during the quarter. EntryPoint Capital LLC’s holdings in Kennametal were worth $429,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal during the 3rd quarter worth about $30,000. Blue Trust Inc. boosted its holdings in shares of Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 716 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 459 shares during the period. KBC Group NV increased its stake in shares of Kennametal by 50.3% during the fourth 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 stake in Kennametal during the 3rd quarter worth approximately $230,000.

Analyst Ratings Changes

Several research analysts have weighed in on KMT shares. StockNews.com upgraded 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 lowered their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Barclays set a $25.00 price objective on shares of Kennametal and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Morgan Stanley dropped their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.60.

Kennametal Price Performance

Shares of NYSE:KMT opened at $22.21 on Wednesday. The firm has a 50 day moving average of $22.61 and a 200-day moving average of $24.90. Kennametal Inc. has a 12 month low of $20.50 and a 12 month high of $32.18. 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 capitalization of $1.72 billion, a PE ratio of 18.20, a PEG ratio of 3.69 and a beta of 1.69.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share 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, equities research analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced 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. This represents a $0.80 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal’s payout ratio is 65.57%.

Insider Transactions at Kennametal

In related news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.41% of the company’s stock.

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.