Kennametal Inc. (NYSE:KMT) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in shares of Kennametal Inc. (NYSE:KMT) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,774 shares of the industrial products company’s stock after selling 3,900 shares during the period. Handelsbanken Fonder AB’s holdings in Kennametal were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of KMT. Wilmington Savings Fund Society FSB acquired a new position in shares of Kennametal during the 3rd quarter worth approximately $30,000. Blue Trust Inc. lifted its holdings in Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 459 shares in the last quarter. KBC Group NV grew its holdings in shares of 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 buying an additional 1,122 shares in the last quarter. Finally, Covestor Ltd raised its position 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 valued at $97,000 after buying an additional 472 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $32.00 in a report on Friday, December 6th. Morgan Stanley cut their price objective on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Barclays lowered their target price on shares of Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, Loop Capital lifted their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.00.

Kennametal Price Performance

Kennametal stock opened at $21.41 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.66 billion, a P/E ratio of 17.55, a PEG ratio of 3.69 and a beta of 1.66. The firm has a fifty day moving average of $23.44 and a 200-day moving average of $25.34. Kennametal Inc. has a 52-week low of $20.50 and a 52-week high of $32.18.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate 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, analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.74%. Kennametal’s dividend payout ratio is presently 65.57%.

Insider Transactions at Kennametal

In other news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the transaction, the vice president now directly owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Chowbey bought 10,000 shares of Kennametal stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.