Kennametal Inc. (NYSE:KMT) Shares Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lifted its stake in shares of Kennametal Inc. (NYSE:KMT) by 39.3% during the 4th quarter, HoldingsChannel reports. The firm owned 43,200 shares of the industrial products company’s stock after purchasing an additional 12,198 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Kennametal were worth $1,038,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FMR LLC boosted its stake in Kennametal by 395.8% during the third quarter. FMR LLC now owns 16,561 shares of the industrial products company’s stock worth $429,000 after buying an additional 13,221 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Kennametal by 2.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 90,793 shares of the industrial products company’s stock worth $2,354,000 after acquiring an additional 1,975 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Kennametal by 1.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 171,373 shares of the industrial products company’s stock valued at $4,444,000 after purchasing an additional 2,401 shares during the period. Verition Fund Management LLC acquired a new stake in Kennametal during the third quarter worth about $1,117,000. Finally, Centiva Capital LP purchased a new position in Kennametal during the third quarter worth about $230,000.

Kennametal Stock Down 3.7 %

NYSE:KMT opened at $19.10 on Friday. Kennametal Inc. has a 52 week low of $18.61 and a 52 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 stock’s fifty day moving average is $22.11 and its two-hundred day moving average is $24.69. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth 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 for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Research analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.20 per share. 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 4.19%. Kennametal’s dividend payout ratio (DPR) is presently 65.57%.

Analysts Set New Price Targets

Several analysts have recently weighed in on KMT shares. Barclays dropped their price target on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Finally, Morgan Stanley lowered their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.40.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.