Jane Street Group LLC Grows Position in Kennametal Inc. (NYSE:KMT)

Jane Street Group LLC raised its position in Kennametal Inc. (NYSE:KMT) by 113.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,151 shares of the industrial products company’s stock after acquiring an additional 101,711 shares during the quarter. Jane Street Group LLC owned approximately 0.25% of Kennametal worth $4,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 970 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Kennametal by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,270,285 shares of the industrial products company’s stock worth $29,903,000 after acquiring an additional 48,638 shares in the last quarter. Azarias Capital Management L.P. increased its holdings in shares of Kennametal by 34.9% in the 2nd quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company’s stock valued at $6,106,000 after acquiring an additional 67,139 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Kennametal during the second quarter worth approximately $900,000. Finally, Innealta Capital LLC acquired a new position in Kennametal in the second quarter valued at approximately $90,000.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group cut shares of 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 report on Friday, December 6th. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital raised their price objective on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Finally, Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.17.

Insider Buying and Selling at Kennametal

In related news, VP John Wayne Witt sold 1,765 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the sale, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Franklin Cardenas sold 20,470 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the transaction, the vice president now owns 39,581 shares of the company’s stock, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

Kennametal Stock Down 0.5 %

Shares of NYSE KMT opened at $26.54 on Tuesday. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.29 and a beta of 1.65. Kennametal Inc. has a 52 week low of $22.50 and a 52 week high of $32.18. The firm has a 50-day moving average price of $27.19 and a 200 day moving average price of $25.60. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 EPS. Equities research analysts anticipate that Kennametal Inc. will post 1.44 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Tuesday, November 12th. Kennametal’s payout ratio is currently 62.50%.

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.