Sei Investments Co. Buys 609 Shares of Kennametal Inc. (NYSE:KMT)

Sei Investments Co. grew its stake in Kennametal Inc. (NYSE:KMT) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,614 shares of the industrial products company’s stock after purchasing an additional 609 shares during the quarter. Sei Investments Co.’s holdings in Kennametal were worth $831,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Brandes Investment Partners LP raised its holdings in Kennametal by 3.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock valued at $61,819,000 after acquiring an additional 78,149 shares during the period. American Century Companies Inc. grew its position in shares of Kennametal by 13.8% in the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock valued at $61,106,000 after purchasing an additional 308,000 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Kennametal during the fourth quarter worth approximately $59,207,000. Geode Capital Management LLC lifted its holdings in Kennametal by 1.0% during the 3rd 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. Finally, Charles Schwab Investment Management Inc. boosted its stake in Kennametal by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,479,599 shares of the industrial products company’s stock valued at $35,540,000 after purchasing an additional 56,104 shares during the period.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was bought 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 of the company’s stock, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.41% of the company’s stock.

Kennametal Stock Performance

NYSE:KMT opened at $17.53 on Wednesday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 3.69 and a beta of 1.55. Kennametal Inc. has a fifty-two week low of $17.35 and a fifty-two week high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The stock has a fifty day moving average price of $21.74 and a 200-day moving average price of $24.52.

Kennametal (NYSE:KMT) last posted its quarterly earnings data 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%. As a group, equities analysts anticipate 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 given 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 4.56%. Kennametal’s dividend payout ratio is currently 65.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on KMT shares. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays decreased their price target on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, Morgan Stanley dropped their price objective on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.40.

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.