PDT Partners LLC purchased a new position in shares of Kennametal Inc. (NYSE:KMT – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,523 shares of the industrial products company’s stock, valued at approximately $1,631,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KMT. Allworth Financial LP acquired a new position in shares of Kennametal in the 2nd quarter valued at approximately $25,000. Rockefeller Capital Management L.P. raised its holdings in Kennametal by 3,600.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 999 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 972 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Kennametal during the 4th quarter valued at $28,000. Danske Bank A S bought a new stake in Kennametal in the fourth quarter valued at about $31,000. Finally, Headlands Technologies LLC raised its stake in Kennametal by 80.7% during the second quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company’s stock valued at $35,000 after buying an additional 682 shares in the last quarter.
Kennametal Price Performance
Shares of NYSE KMT opened at $29.98 on Thursday. Kennametal Inc. has a twelve month low of $20.35 and a twelve month high of $43.81. The company has a current ratio of 2.62, a quick ratio of 0.98 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $33.45 and a two-hundred day moving average of $35.96. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 6.81, a PEG ratio of 0.29 and a beta of 1.36.
Kennametal Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. Kennametal’s dividend payout ratio (DPR) is presently 18.18%.
Insider Buying and Selling at Kennametal
In other Kennametal news, VP Carlonda R. Reilly sold 12,013 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $33.12, for a total transaction of $397,870.56. Following the transaction, the vice president owned 25,143 shares in the company, valued at $832,736.16. This trade represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Judith L. Bacchus sold 5,488 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $35.94, for a total transaction of $197,238.72. Following the completion of the transaction, the vice president owned 4,554 shares in the company, valued at $163,670.76. The trade was a 54.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,000 shares of company stock worth $1,583,326 over the last 90 days. 1.43% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on KMT shares. Zacks Research lowered Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and set a $47.50 price target on the stock. in a research report on Thursday, May 7th. UBS Group decreased their price objective on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, August 10th. DA Davidson lowered their target price on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Kennametal from $40.00 to $34.00 and set an “underweight” rating on the stock in a research note on Monday, July 13th. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $34.07.
View Our Latest Report on Kennametal
About Kennametal
Kennametal Inc is a global industrial technology company that designs and manufactures advanced materials, tooling systems, and engineered components for a range of demanding applications. Its solutions support precision metalworking, earthmoving, and wear-resistant environments, catering to customers seeking enhanced productivity, longer tool life, and reduced operating costs.
The company’s product portfolio spans indexable cutting tools, solid round tools, tool holders, metalworking fluid systems, wear parts, ceramics and composites, and custom-engineered components.
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