MetLife Investment Management LLC Has $1.15 Million Holdings in Kennametal Inc. (NYSE:KMT)

MetLife Investment Management LLC raised its stake in Kennametal Inc. (NYSE:KMT) by 6.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 48,037 shares of the industrial products company’s stock after buying an additional 2,763 shares during the period. MetLife Investment Management LLC’s holdings in Kennametal were worth $1,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its position in shares of Kennametal by 32.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock worth $11,270,000 after purchasing an additional 115,718 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Kennametal in the fourth quarter valued at about $373,000. GAMMA Investing LLC increased its holdings in shares of Kennametal by 45.9% in 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 in the last quarter. AMH Equity Ltd acquired a new stake in shares of Kennametal during the fourth quarter worth about $1,441,000. Finally, Amundi lifted its holdings in shares of Kennametal by 174.7% during the 4th quarter. Amundi now owns 40,359 shares of the industrial products company’s stock valued at $982,000 after purchasing an additional 25,666 shares in the last quarter.

Insiders Place Their Bets

In other 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 acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares of the company’s stock, valued at $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays lowered their target price on Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday. Finally, Morgan Stanley reduced their target price on shares of Kennametal from $24.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.20.

Kennametal Stock Performance

Shares of KMT opened at $19.54 on Friday. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 3.69 and a beta of 1.55. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The firm has a fifty day simple moving average of $20.45 and a 200 day simple moving average of $23.73. 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 posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 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 forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

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.