Pacer Advisors Inc. Invests $59.21 Million in Kennametal Inc. (NYSE:KMT)

Pacer Advisors Inc. bought a new stake in Kennametal Inc. (NYSE:KMT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,464,925 shares of the industrial products company’s stock, valued at approximately $59,207,000. Pacer Advisors Inc. owned about 3.17% of Kennametal as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in shares of Kennametal during the 2nd quarter valued at about $28,000. Sei Investments Co. bought a new position in Kennametal during the second quarter valued at approximately $624,000. Squarepoint Ops LLC grew its position in Kennametal by 21.1% during the second quarter. Squarepoint Ops LLC now owns 88,770 shares of the industrial products company’s stock valued at $2,090,000 after acquiring an additional 15,453 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Kennametal by 37.2% during the second quarter. AQR Capital Management LLC now owns 189,435 shares of the industrial products company’s stock worth $4,450,000 after acquiring an additional 51,335 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Kennametal by 59.3% in the 2nd quarter. Millennium Management LLC now owns 154,059 shares of the industrial products company’s stock worth $3,627,000 after acquiring an additional 57,327 shares during the last quarter.

Kennametal Stock Down 0.7 %

Shares of NYSE:KMT opened at $23.76 on Tuesday. Kennametal Inc. has a 1 year low of $22.50 and a 1 year high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The stock’s 50-day moving average is $25.79 and its 200 day moving average is $25.70. The company has a market cap of $1.85 billion, a PE ratio of 18.56, a P/E/G ratio of 2.05 and a beta of 1.67.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. Sell-side analysts anticipate that Kennametal Inc. will post 1.44 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Loop Capital increased their target price on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. Barclays decreased their price objective on Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $32.00 in a report on Friday, December 6th. Morgan Stanley lifted their price target on Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.67.

Insider Transactions at Kennametal

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the sale, the vice president now directly owns 39,581 shares in the company, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the sale, the vice president now directly owns 1,642 shares in the company, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.

Kennametal 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.