Kennametal Inc. (NYSE:KMT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Kennametal Inc. (NYSE:KMT) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,078 shares of the industrial products company’s stock after selling 1,097 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Kennametal worth $1,443,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Pacer Advisors Inc. acquired a new position in Kennametal in the 4th quarter valued at $59,207,000. Wellington Management Group LLP increased its stake 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 worth $162,105,000 after acquiring an additional 1,567,867 shares during the period. Weiss Asset Management LP purchased a new position in Kennametal during the third quarter worth about $10,295,000. Hotchkis & Wiley Capital Management LLC lifted its position in 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 valued at $6,714,000 after purchasing an additional 151,480 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Kennametal by 113.7% in the 3rd quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock valued at $4,957,000 after purchasing an additional 101,711 shares in the last quarter.

Kennametal Stock Down 1.7 %

Kennametal stock opened at $21.62 on Monday. Kennametal Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $32.18. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. The stock’s fifty day moving average is $22.46 and its two-hundred day moving average is $24.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 EPS 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%. Analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.70%. Kennametal’s dividend payout ratio is currently 65.57%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Barclays cut their price objective on Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Morgan Stanley decreased 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 report on Wednesday, February 12th. Finally, StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.40.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $21.75 per share, with a total value of $217,500.00. Following the purchase, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.41% 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.