Kennedy Capital Management Inc. Sells 51,715 Shares of Kennametal Inc. (NYSE:KMT)

Kennedy Capital Management Inc. reduced its stake in Kennametal Inc. (NYSE:KMT) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 473,160 shares of the industrial products company’s stock after selling 51,715 shares during the period. Kennedy Capital Management Inc. owned approximately 0.57% of Kennametal worth $17,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of KMT. Oregon Public Employees Retirement Fund boosted its stake in shares of Kennametal by 3,277.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,087,990 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,055,775 shares during the period. Norges Bank bought a new stake in shares of Kennametal in the fourth quarter valued at approximately $31,958,000. Prudential Financial Inc. boosted its stake in shares of Kennametal by 803.3% in the fourth quarter. Prudential Financial Inc. now owns 513,858 shares of the industrial products company’s stock valued at $17,101,000 after buying an additional 456,969 shares during the period. BlackRock Inc. boosted its stake in shares of Kennametal by 3.2% in the fourth quarter. BlackRock Inc. now owns 9,522,676 shares of the industrial products company’s stock valued at $316,914,000 after buying an additional 293,975 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Kennametal by 198.3% in the third quarter. JPMorgan Chase & Co. now owns 289,076 shares of the industrial products company’s stock valued at $12,592,000 after buying an additional 192,158 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

In other news, Director Lawrence W. Stranghoener sold 7,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $31.98, for a total value of $223,860.00. Following the completion of the transaction, the director now directly owns 26,108 shares in the company, valued at approximately $834,933.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

KMT has been the subject of several recent research reports. ValuEngine upgraded Kennametal from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Zacks Investment Research cut Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. KeyCorp cut their price target on Kennametal from $52.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Bank of America set a $30.00 target price on Kennametal and gave the stock an “underperform” rating in a research note on Thursday, June 13th. Finally, Barclays upgraded Kennametal from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $38.00 to $44.00 in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Kennametal has a consensus rating of “Hold” and an average target price of $45.38.

NYSE KMT traded up $1.47 on Friday, hitting $36.99. 3,909,300 shares of the company’s stock were exchanged, compared to its average volume of 716,520. The business has a 50-day moving average price of $33.21. The company has a current ratio of 2.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Kennametal Inc. has a 52 week low of $30.32 and a 52 week high of $45.10. The company has a market cap of $2.91 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.39 and a beta of 2.20.

Kennametal (NYSE:KMT) last released its earnings results on Monday, May 6th. The industrial products company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). Kennametal had a return on equity of 19.66% and a net margin of 10.28%. The business had revenue of $597.20 million for the quarter, compared to the consensus estimate of $626.27 million. During the same quarter in the previous year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Kennametal Inc. will post 3.05 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Tuesday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, May 13th. Kennametal’s payout ratio is 30.19%.

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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