Holocene Advisors LP Grows Position in Kennametal Inc. (NYSE:KMT)

Holocene Advisors LP boosted its stake in Kennametal Inc. (NYSE:KMT) by 24.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 93,186 shares of the industrial products company’s stock after acquiring an additional 18,432 shares during the period. Holocene Advisors LP’s holdings in Kennametal were worth $2,416,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of KMT. Centiva Capital LP acquired a new stake in shares of Kennametal during the third quarter valued at about $230,000. Verition Fund Management LLC purchased a new position in shares of Kennametal during the 3rd quarter worth approximately $1,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Kennametal by 1.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 171,373 shares of the industrial products company’s stock valued at $4,444,000 after purchasing an additional 2,401 shares during the last quarter. BNP Paribas Financial Markets raised its position in Kennametal by 2.2% in the third quarter. BNP Paribas Financial Markets now owns 90,793 shares of the industrial products company’s stock valued at $2,354,000 after purchasing an additional 1,975 shares during the period. Finally, FMR LLC lifted its stake in Kennametal by 395.8% during the third quarter. FMR LLC now owns 16,561 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 13,221 shares in the last quarter.

Analysts Set New Price Targets

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

Kennametal Stock Performance

Shares of Kennametal stock opened at $27.88 on Friday. The company has a market cap of $2.17 billion, a PE ratio of 21.78, a P/E/G ratio of 2.40 and a beta of 1.65. The business has a 50-day simple moving average of $26.99 and a 200-day simple moving average of $25.53. Kennametal Inc. has a one year low of $22.50 and a one year high of $32.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52.

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

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, November 12th. Kennametal’s payout ratio is 62.50%.

Insider Activity at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the company’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 owns 1,642 shares in the company, valued at $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

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.