Kennametal Inc. (NYSE:KMT) Stake Trimmed by Savant Capital LLC

Savant Capital LLC reduced its stake in Kennametal Inc. (NYSE:KMT) by 6.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,307 shares of the industrial products company’s stock after selling 1,049 shares during the quarter. Savant Capital LLC’s holdings in Kennametal were worth $368,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KMT. Wilmington Savings Fund Society FSB acquired a new position in Kennametal in the third quarter valued at about $30,000. Blue Trust Inc. lifted its stake in Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 716 shares during the last quarter. GAMMA Investing LLC lifted its stake in Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares during the last quarter. Signaturefd LLC raised its position in shares of Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,008 shares during the period. Finally, KBC Group NV increased its position in Kennametal by 50.3% during the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 1,122 shares during the period.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the transaction, the vice president now directly owns 1,642 shares in the company, valued at $48,192.70. This trade represents a 51.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

Kennametal Price Performance

Shares of NYSE:KMT opened at $22.52 on Tuesday. Kennametal Inc. has a 1-year low of $20.50 and a 1-year high of $32.18. The business has a fifty day moving average price of $24.14 and a 200-day moving average price of $25.47. The company has a market capitalization of $1.75 billion, a PE ratio of 18.46, a PEG ratio of 2.57 and a beta of 1.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.16.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. As a group, equities analysts expect that Kennametal Inc. will post 1.18 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Tuesday, February 11th. Kennametal’s payout ratio is currently 65.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Morgan Stanley decreased their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. 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 report on Tuesday, November 19th. Finally, Barclays dropped their price objective on shares of Kennametal from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Kennametal Company 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.