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

Sanctuary Advisors LLC grew its position in shares of Kennametal Inc. (NYSE:KMT) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,671 shares of the industrial products company’s stock after acquiring an additional 1,269 shares during the quarter. Sanctuary Advisors LLC’s holdings in Kennametal were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Kennametal during the third quarter valued at about $30,000. Blue Trust Inc. lifted its position in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after buying an additional 459 shares during the last quarter. KBC Group NV grew its holdings in shares of Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Kennametal by 14.4% during the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 472 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on KMT. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Morgan Stanley decreased their price objective on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Loop Capital boosted their target price on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Finally, Barclays decreased their price target on shares of Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. One investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.00.

Insider Activity at Kennametal

In other news, VP Franklin Cardenas sold 20,470 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the sale, the vice president now directly owns 39,581 shares in the company, valued at $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The disclosure for this purchase can be found here. 1.41% of the stock is currently owned by corporate insiders.

Kennametal Price Performance

NYSE KMT opened at $22.11 on Friday. The company has a market cap of $1.71 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 3.69 and a beta of 1.66. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $23.44 and its two-hundred day simple moving average is $25.33. Kennametal Inc. has a 52 week low of $20.50 and a 52 week high of $32.18.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Tuesday, February 11th. Kennametal’s dividend payout ratio (DPR) is presently 65.57%.

About Kennametal

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.