Mutual of America Capital Management LLC Sells 1,213 Shares of Kennametal Inc. (NYSE:KMT)

Mutual of America Capital Management LLC cut its holdings in shares of Kennametal Inc. (NYSE:KMT) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,717 shares of the industrial products company’s stock after selling 1,213 shares during the period. Mutual of America Capital Management LLC’s holdings in Kennametal were worth $304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KMT. Quarry LP increased its position in shares of Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 704 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Kennametal during the 2nd quarter valued at $28,000. Quest Partners LLC bought a new position in shares of Kennametal during the 2nd quarter valued at $44,000. Signaturefd LLC grew its holdings in shares of Kennametal by 98.7% during the 3rd 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 last quarter. Finally, CWM LLC boosted its position in Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock valued at $72,000 after buying an additional 970 shares during the period.

Kennametal Stock Down 0.1 %

NYSE:KMT opened at $28.48 on Friday. The firm has a market cap of $2.21 billion, a P/E ratio of 22.25, a P/E/G ratio of 2.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. Kennametal Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $32.18. The firm has a 50-day simple moving average of $26.67 and a two-hundred day simple moving average of $25.42.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. Kennametal’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. Analysts predict that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Ratings Changes

Several brokerages have weighed in on KMT. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target for the company. in a research report on Friday, October 18th. Loop Capital increased their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, November 19th. Barclays raised their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.00.

Insider Buying and Selling at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the sale, the vice president now owns 1,642 shares in the company, valued at $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.41% of the company’s stock.

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.