Intech Investment Management LLC Invests $555,000 in Kennametal Inc. (NYSE:KMT)

Intech Investment Management LLC bought a new stake in shares of Kennametal Inc. (NYSE:KMT) in the third quarter, Holdings Channel.com reports. The institutional investor bought 21,412 shares of the industrial products company’s stock, valued at approximately $555,000.

Other institutional investors also recently bought and sold shares of the company. Azarias Capital Management L.P. increased its position in shares of Kennametal by 34.9% during the second quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company’s stock worth $6,106,000 after purchasing an additional 67,139 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Kennametal by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock worth $48,292,000 after buying an additional 20,634 shares during the last quarter. Brandes Investment Partners LP increased its position in Kennametal by 35.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after buying an additional 606,477 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in Kennametal in the second quarter valued at about $1,202,000. Finally, Sei Investments Co. acquired a new stake in Kennametal in the second quarter worth about $624,000.

Insider Transactions at Kennametal

In related news, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the transaction, the vice president now directly owns 1,642 shares in the company, valued at $48,192.70. The trade was a 51.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.41% of the company’s stock.

Kennametal Stock Performance

KMT opened at $28.70 on Monday. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a 12-month low of $22.50 and a 12-month high of $32.18. The firm has a 50 day moving average of $26.78 and a two-hundred day moving average of $25.46. The firm has a market capitalization of $2.23 billion, a PE ratio of 22.42, a P/E/G ratio of 2.41 and a beta of 1.64.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Kennametal Inc. will post 1.45 EPS for the current year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.20 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.79%. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. 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 note on Tuesday, November 19th. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Barclays upped their target price on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.00.

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.