Nisa Investment Advisors LLC Acquires 2,841 Shares of Kennametal Inc. (NYSE:KMT)

Nisa Investment Advisors LLC grew its stake in shares of Kennametal Inc. (NYSE:KMT) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,717 shares of the industrial products company’s stock after acquiring an additional 2,841 shares during the period. Nisa Investment Advisors LLC’s holdings in Kennametal were worth $402,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the period. Covestor Ltd lifted its holdings in shares of Kennametal by 14.4% in the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock worth $97,000 after buying an additional 472 shares in the last quarter. Quarry LP boosted its position in shares of Kennametal by 198.9% in the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 704 shares during the period. Signaturefd LLC grew its stake in Kennametal by 98.7% during the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,008 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Kennametal by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,877 shares of the industrial products company’s stock worth $1,033,000 after acquiring an additional 1,016 shares during the period.

Insiders Place Their Bets

In other news, VP John Wayne Witt sold 1,765 shares of Kennametal 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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the sale, the vice president now owns 39,581 shares in the company, valued at $1,117,767.44. The trade was a 34.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KMT shares. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley upped their price objective on shares of Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research note on Friday, October 18th. Barclays cut their price target on shares of Kennametal from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Kennametal presently has a consensus rating of “Hold” and an average price target of $27.67.

Kennametal Price Performance

Shares of Kennametal stock opened at $23.98 on Thursday. The firm has a market cap of $1.86 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.67. The company’s fifty day simple moving average is $25.62 and its two-hundred day simple moving average is $25.68. 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 Inc. has a 12-month low of $22.50 and a 12-month high of $32.18.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million during 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 was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, equities analysts expect that Kennametal Inc. will post 1.44 EPS for the current year.

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.