Atria Investments Inc Increases Stock Holdings in Kennametal Inc. (NYSE:KMT)

Atria Investments Inc boosted its position in Kennametal Inc. (NYSE:KMT) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,658 shares of the industrial products company’s stock after purchasing an additional 1,950 shares during the period. Atria Investments Inc’s holdings in Kennametal were worth $664,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Kennametal by 33.5% in 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 during the last quarter. Pacer Advisors Inc. purchased a new position in Kennametal in the fourth quarter worth about $59,207,000. Geode Capital Management LLC boosted its position in Kennametal by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock worth $47,096,000 after purchasing an additional 17,265 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kennametal by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,479,599 shares of the industrial products company’s stock worth $35,540,000 after buying an additional 56,104 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of Kennametal in the third quarter worth about $10,295,000.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey bought 10,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the acquisition, 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KMT shares. Barclays set a $25.00 price objective on Kennametal and gave the stock an “equal weight” rating in a research note on Monday. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Morgan Stanley decreased their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Finally, Loop Capital lifted their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.60.

Kennametal Stock Up 1.9 %

Shares of KMT opened at $21.40 on Friday. The business’s 50 day moving average is $22.98 and its 200 day moving average is $25.11. The company has a market capitalization of $1.66 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. 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.

Kennametal (NYSE:KMT) last released 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 return on equity of 8.12% and a net margin of 4.76%. Research analysts expect that Kennametal Inc. will post 1.17 earnings per share 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Tuesday, February 11th. Kennametal’s payout ratio is 65.57%.

Kennametal 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.