Kennametal Inc. (NYSE:KMT) Shares Sold by Atria Investments Inc

Atria Investments Inc decreased its position in shares of Kennametal Inc. (NYSE:KMT) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,708 shares of the industrial products company’s stock after selling 2,978 shares during the quarter. Atria Investments Inc’s holdings in Kennametal were worth $667,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its position in Kennametal by 1,235.5% in the 3rd quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company’s stock valued at $3,284,000 after buying an additional 117,162 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,008 shares during the period. Inspire Advisors LLC bought a new position in shares of Kennametal in the third quarter valued at approximately $204,000. Inspire Investing LLC increased its stake in shares of Kennametal by 6.4% during the third quarter. Inspire Investing LLC now owns 17,840 shares of the industrial products company’s stock valued at $463,000 after acquiring an additional 1,070 shares during the period. Finally, CWM LLC raised its holdings in Kennametal by 40.3% during the third quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 1,230 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KMT. Barclays increased their price target on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a report on Friday, October 18th. Loop Capital boosted their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and four have given 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 $25.00.

Kennametal Price Performance

Kennametal stock opened at $27.97 on Wednesday. The business has a 50 day simple moving average of $26.26 and a 200 day simple moving average of $25.28. Kennametal Inc. has a one year low of $22.50 and a one year high of $32.18. The company has a market capitalization of $2.17 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.39 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16.

Kennametal (NYSE:KMT) last announced its 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 company had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, sell-side analysts forecast that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.86%. Kennametal’s payout ratio is 62.50%.

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.