Bryce Point Capital LLC Makes New Investment in Kennametal Inc. (NYSE:KMT)

Bryce Point Capital LLC bought a new stake in shares of Kennametal Inc. (NYSE:KMT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,137 shares of the industrial products company’s stock, valued at approximately $484,000.

A number of other hedge funds also recently made changes to their positions in KMT. GAMMA Investing LLC increased its holdings in Kennametal by 45.9% during the fourth 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. Sei Investments Co. increased its stake in shares of Kennametal by 1.8% during the 4th quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company’s stock worth $831,000 after purchasing an additional 609 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Kennametal by 3.8% during the 4th quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company’s stock worth $445,000 after purchasing an additional 672 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 716 shares during the period. Finally, KBC Group NV lifted its stake in 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 purchasing an additional 1,122 shares during the last quarter.

Insider Transactions at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.41% of the company’s stock.

Kennametal Stock Performance

Shares of KMT opened at $19.10 on Friday. Kennametal Inc. has a 52-week low of $18.61 and a 52-week high of $32.18. The stock’s 50-day simple moving average is $22.11 and its 200 day simple moving average is $24.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT) last announced its quarterly earnings results 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%. Research analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.19%. Kennametal’s dividend payout ratio (DPR) is currently 65.57%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Barclays lowered their price objective on Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Morgan Stanley dropped their price objective on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Finally, StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Kennametal has a consensus rating of “Hold” and an average target price of $26.40.

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.