Kennametal Inc. (NYSE:KMT) Holdings Decreased by Mason Street Advisors LLC

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Mason Street Advisors LLC trimmed its position in Kennametal Inc. (NYSE:KMT) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 43,245 shares of the industrial products company’s stock after selling 670 shares during the period. Mason Street Advisors LLC’s holdings in Kennametal were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Financial Inc. bought a new stake in shares of Kennametal in the 2nd quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new position in Kennametal during the 2nd quarter valued at approximately $31,000. Tower Research Capital LLC TRC acquired a new position in Kennametal during the 2nd quarter valued at approximately $52,000. Quadrant Capital Group LLC boosted its position in Kennametal by 61.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,939 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 735 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in Kennametal during the 2nd quarter valued at approximately $72,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

In other news, VP Ronald L. Port sold 1,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $34.12, for a total value of $51,180.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Cindy L. Davis sold 4,644 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $34.15, for a total value of $158,592.60. Following the completion of the sale, the director now directly owns 11,529 shares in the company, valued at approximately $393,715.35. The disclosure for this sale can be found here. Insiders own 1.48% of the company’s stock.

Shares of KMT stock opened at $33.83 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.21 and a current ratio of 2.54. Kennametal Inc. has a 1 year low of $27.49 and a 1 year high of $43.98. The stock has a fifty day moving average of $31.25 and a two-hundred day moving average of $32.59. The firm has a market capitalization of $2.79 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 2.27 and a beta of 2.28.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.17. Kennametal had a return on equity of 15.40% and a net margin of 8.31%. The company had revenue of $518.09 million during the quarter, compared to analyst estimates of $517.49 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. Equities research analysts predict that Kennametal Inc. will post 1.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.36%. Kennametal’s dividend payout ratio (DPR) is presently 26.49%.

A number of research analysts recently issued reports on KMT shares. Zacks Investment Research lowered Kennametal from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a research report on Thursday, October 10th. TheStreet lowered Kennametal from a “b-” rating to a “c+” rating in a research report on Tuesday, August 27th. BMO Capital Markets reduced their price objective on Kennametal from $30.50 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, October 22nd. Bank of America reduced their price objective on Kennametal from $30.00 to $27.00 and set an “underperform” rating for the company in a research report on Tuesday, August 6th. Finally, Wells Fargo & Co reduced their price target on Kennametal from $34.00 to $32.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $32.75.

Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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