Kennametal Inc. (NYSE:KMT) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its position in Kennametal Inc. (NYSE:KMT) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 62,430 shares of the industrial products company’s stock after selling 2,160 shares during the period. Cresset Asset Management LLC owned approximately 0.08% of Kennametal worth $1,500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in shares of Kennametal in the fourth quarter valued at approximately $59,207,000. American Century Companies Inc. boosted its stake in shares of Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock worth $61,106,000 after acquiring an additional 308,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Kennametal in the 4th quarter worth approximately $5,543,000. Arrowstreet Capital Limited Partnership increased its position in shares of Kennametal by 32.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock valued at $11,270,000 after buying an additional 115,718 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kennametal by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock worth $123,319,000 after buying an additional 101,159 shares during the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on KMT. Barclays dropped their target price on shares of Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Monday, April 28th. Finally, Morgan Stanley cut their price target on Kennametal from $24.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. One equities 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.20.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.41% of the company’s stock.

Kennametal Stock Performance

NYSE KMT opened at $20.76 on Friday. The business’s 50-day moving average price is $20.25 and its 200 day moving average price is $23.49. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The company has a market capitalization of $1.61 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The business had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same period in the prior year, the firm posted $0.30 EPS. The company’s revenue was down 5.7% on a year-over-year basis. On average, research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.85%. Kennametal’s payout ratio is 65.57%.

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.