Quadrature Capital Ltd Makes New Investment in Kennametal Inc. (NYSE:KMT)

Quadrature Capital Ltd purchased a new position in shares of Kennametal Inc. (NYSE:KMT – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,669 shares of the industrial products company’s stock, valued at approximately $261,000.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in shares of Kennametal by 106.2% during the third quarter. Quadrant Capital Group LLC now owns 1,423 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 733 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in shares of Kennametal during the third quarter valued at approximately $30,000. Lazard Asset Management LLC bought a new position in Kennametal in the 2nd quarter worth approximately $42,000. Quantbot Technologies LP grew its holdings in Kennametal by 2,888.6% in the 3rd quarter. Quantbot Technologies LP now owns 7,083 shares of the industrial products company’s stock worth $145,000 after buying an additional 6,846 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Kennametal by 12.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,246 shares of the industrial products company’s stock worth $149,000 after buying an additional 821 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KMT shares. Morgan Stanley upped their target price on Kennametal from $23.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 14th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Friday, February 10th. Loop Capital lifted their price objective on Kennametal from $22.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, February 9th. The Goldman Sachs Group lifted their price objective on Kennametal from $23.00 to $26.00 and gave the company a “sell” rating in a report on Thursday, December 15th. Finally, JPMorgan Chase & Co. boosted their target price on Kennametal from $24.00 to $26.00 and gave the stock an “underweight” rating in a report on Wednesday, February 8th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.71.

Kennametal Stock Up 0.1 %

Shares of KMT opened at $27.57 on Tuesday. Kennametal Inc. has a 12 month low of $20.21 and a 12 month high of $31.22. The firm’s 50 day moving average is $27.94 and its 200-day moving average is $25.48. The stock has a market capitalization of $2.22 billion, a PE ratio of 18.02, a P/E/G ratio of 3.85 and a beta of 1.89. The company has a current ratio of 2.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.46.

Kennametal (NYSE:KMT – Get Rating) last issued its earnings results on Monday, February 6th. The industrial products company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $497.00 million for the quarter, compared to analyst estimates of $491.88 million. Kennametal had a net margin of 6.25% and a return on equity of 10.26%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. Equities research analysts forecast that Kennametal Inc. will post 1.43 EPS for the current year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Monday, February 13th. Kennametal’s dividend payout ratio (DPR) is currently 52.29%.

Kennametal Profile

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Kennametal, Inc engages in the development and application of tungsten carbides, ceramics, and solutions used in metal cutting and extreme wear applications. It operates through the following segments: Metal Cutting and Infrastructure. The Metal Cutting segment develops and manufactures tooling and metal cutting products and services and offers an assortment of standard and custom metal cutting solutions to diverse end markets, including aerospace, general engineering, energy and transportation.