PNC Financial Services Group Inc. Has $262,000 Holdings in Kennametal Inc. (NYSE:KMT)

PNC Financial Services Group Inc. cut its position in shares of Kennametal Inc. (NYSE:KMT) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,140 shares of the industrial products company’s stock after selling 438 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kennametal were worth $262,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Burgundy Asset Management Ltd. boosted its stake in Kennametal by 3.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 4,852,273 shares of the industrial products company’s stock worth $125,140,000 after acquiring an additional 173,023 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Kennametal by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,416,981 shares of the industrial products company’s stock worth $113,914,000 after acquiring an additional 38,358 shares in the last quarter. Wellington Management Group LLP boosted its stake in Kennametal by 7.8% during the fourth quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock worth $109,371,000 after acquiring an additional 305,542 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kennametal by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,214,902 shares of the industrial products company’s stock worth $31,332,000 after acquiring an additional 34,880 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its stake in Kennametal by 1,186.7% during the fourth quarter. Brandes Investment Partners LP now owns 890,034 shares of the industrial products company’s stock worth $22,954,000 after acquiring an additional 820,864 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays increased their target price on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Loop Capital reduced their price objective on shares of Kennametal from $24.00 to $22.00 and set a “hold” rating for the company in a report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.83.

Kennametal Stock Down 2.4 %

Shares of NYSE KMT opened at $22.98 on Tuesday. Kennametal Inc. has a 1 year low of $22.08 and a 1 year high of $30.60. The stock has a market capitalization of $1.81 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.40 and a beta of 1.67. The company has a 50-day moving average price of $24.70 and a 200-day moving average price of $24.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.42 and a quick ratio of 1.09.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The firm had revenue of $515.80 million for the quarter, compared to analysts’ expectations of $518.50 million. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, May 13th. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $24.28 per share, for a total transaction of $121,400.00. Following the completion of the acquisition, the chief executive officer now owns 49,270 shares in the company, valued at $1,196,275.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.79% of the stock is owned by corporate insiders.

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.