Squarepoint Ops LLC acquired a new position in shares of Kennametal Inc. (NYSE:KMT) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 33,904 shares of the industrial products company’s stock, valued at approximately $631,000.

A number of other institutional investors and hedge funds also recently modified their holdings of KMT. Parallel Advisors LLC grew its stake in Kennametal by 332.9% during the 1st quarter. Parallel Advisors LLC now owns 2,169 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,668 shares during the last quarter. First Mercantile Trust Co. grew its stake in Kennametal by 33.6% during the 1st quarter. First Mercantile Trust Co. now owns 6,157 shares of the industrial products company’s stock worth $115,000 after buying an additional 1,548 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in Kennametal during the 1st quarter worth $193,000. CWM Advisors LLC bought a new position in Kennametal during the 1st quarter worth $194,000. Finally, M&T Bank Corp grew its stake in Kennametal by 68.3% during the 1st quarter. M&T Bank Corp now owns 10,450 shares of the industrial products company’s stock worth $195,000 after buying an additional 4,240 shares during the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.

NYSE:KMT opened at $27.21 on Tuesday. Kennametal Inc. has a 1 year low of $14.45 and a 1 year high of $38.73. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 5.99 and a beta of 2.38. The business has a fifty day moving average of $27.15 and a 200-day moving average of $28.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 2.52.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.14. The company had revenue of $483.10 million during the quarter, compared to analysts’ expectations of $503.23 million. Kennametal had a return on equity of 10.16% and a net margin of 3.10%. The company’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. On average, equities research analysts predict that Kennametal Inc. will post 0.91 EPS for the current year.

KMT has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Kennametal in a research note on Friday. They set an “equal weight” rating and a $33.00 price objective for the company. Barclays restated a “buy” rating and set a $27.00 price objective on shares of Kennametal in a research note on Sunday, March 22nd. BMO Capital Markets upped their price objective on Kennametal from $18.00 to $29.00 in a research note on Wednesday, June 10th. Wells Fargo & Co increased their price target on Kennametal from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Finally, KeyCorp increased their price target on Kennametal from $30.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.78.

In other news, Director Lawrence W. Stranghoener sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $30.06, for a total value of $210,420.00. Following the completion of the sale, the director now owns 26,108 shares in the company, valued at $784,806.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michelle R. Keating sold 9,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $24.24, for a total value of $218,160.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,750 shares of company stock valued at $730,280. Insiders own 1.48% of the company’s stock.

Kennametal Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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