Kennametal Inc. (NYSE:KMT) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in Kennametal Inc. (NYSE:KMT) by 12.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,902 shares of the industrial products company’s stock after selling 1,286 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kennametal were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KMT. Pacer Advisors Inc. acquired a new position in shares of Kennametal during the 4th quarter worth about $59,207,000. Wellington Management Group LLP raised its holdings in shares of Kennametal by 33.5% during the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after acquiring an additional 1,567,867 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Kennametal in the third quarter valued at approximately $10,295,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Kennametal by 141.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 258,910 shares of the industrial products company’s stock worth $6,714,000 after acquiring an additional 151,480 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Kennametal by 113.7% during the third quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock worth $4,957,000 after purchasing an additional 101,711 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Barclays set a $25.00 price objective on shares of Kennametal and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One equities 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. According to MarketBeat.com, Kennametal currently has a consensus rating of “Hold” and an average target price of $26.60.

Kennametal Stock Performance

Shares of KMT opened at $21.58 on Monday. Kennametal Inc. has a 1 year low of $20.50 and a 1 year high of $32.18. The stock has a market capitalization of $1.67 billion, a PE ratio of 17.69, a PEG ratio of 3.69 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The stock has a 50-day simple moving average of $22.67 and a 200-day simple moving average of $24.93.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. On average, analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.71%. Kennametal’s payout ratio is currently 65.57%.

Insider Activity at Kennametal

In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at $1,687,691.25. This trade represents a 14.79 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

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.