Cwm LLC Grows Position in Kennametal Inc. (NYSE:KMT)

Cwm LLC raised its stake in Kennametal Inc. (NYSE:KMT) by 191.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,767 shares of the industrial products company’s stock after acquiring an additional 1,160 shares during the quarter. Cwm LLC’s holdings in Kennametal were worth $46,000 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. Signaturefd LLC boosted its holdings in shares of Kennametal by 119.6% during the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 603 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Kennametal in the 3rd quarter worth about $62,000. Acadian Asset Management LLC purchased a new stake in Kennametal in the 3rd quarter valued at about $82,000. Gradient Investments LLC acquired a new position in shares of Kennametal during the 3rd quarter valued at about $96,000. Finally, MQS Management LLC purchased a new position in shares of Kennametal during the 3rd quarter worth about $221,000.

Insider Transactions at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,000 shares of Kennametal stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $25.55, for a total transaction of $25,550.00. Following the sale, the vice president now owns 1,343 shares of the company’s stock, valued at approximately $34,313.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

KMT has been the subject of a number of recent analyst reports. Barclays boosted their target price on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Finally, StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.75.

Kennametal Trading Up 2.7 %

NYSE KMT opened at $26.03 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 2.44. Kennametal Inc. has a one year low of $22.08 and a one year high of $30.60. The company’s 50 day moving average price is $24.39 and its 200 day moving average price is $24.36. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 3.29 and a beta of 1.76.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Kennametal had a return on equity of 9.94% and a net margin of 5.86%. The company had revenue of $515.80 million during the quarter, compared to analysts’ expectations of $518.50 million. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Kennametal Inc. will post 1.49 EPS for the current year.

Kennametal declared that its board has initiated a share repurchase program on Wednesday, February 7th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 10.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.07%. Kennametal’s dividend payout ratio (DPR) is 53.33%.

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.