EntryPoint Capital LLC Sells 1,087 Shares of Kennametal Inc. (NYSE:KMT)

EntryPoint Capital LLC lessened its holdings in Kennametal Inc. (NYSE:KMT) by 5.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,860 shares of the industrial products company’s stock after selling 1,087 shares during the period. EntryPoint Capital LLC’s holdings in Kennametal were worth $429,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in shares of Kennametal by 20.6% during the third quarter. Natixis Advisors LLC now owns 14,158 shares of the industrial products company’s stock valued at $367,000 after acquiring an additional 2,415 shares during the last quarter. Intech Investment Management LLC bought a new position in Kennametal during the 3rd quarter worth $555,000. Charles Schwab Investment Management Inc. lifted its holdings in Kennametal by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,423,495 shares of the industrial products company’s stock worth $36,911,000 after buying an additional 67,392 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Kennametal in the 3rd quarter valued at about $804,000. Finally, FMR LLC increased its stake in shares of Kennametal by 395.8% in the third quarter. FMR LLC now owns 16,561 shares of the industrial products company’s stock valued at $429,000 after buying an additional 13,221 shares during the period.

Kennametal Stock Down 1.2 %

Kennametal stock opened at $22.21 on Wednesday. The company has a market capitalization of $1.72 billion, a PE ratio of 18.20, a PEG 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 firm’s fifty day moving average is $22.61 and its 200 day moving average is $24.90. The company has a quick ratio of 1.13, a current ratio of 2.53 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%. As a group, sell-side analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued 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 dividend yield of 3.60%. Kennametal’s dividend payout ratio is 65.57%.

Insider Transactions at Kennametal

In other Kennametal news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were purchased at an average price 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 in the company, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley reduced their target price on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Barclays set a $25.00 target price on shares of Kennametal and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Finally, Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $32.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kennametal presently has a consensus rating of “Hold” and a consensus target price of $26.60.

Kennametal Company 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.