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

Cresset Asset Management LLC reduced its stake in shares of Kennametal Inc. (NYSE:KMT) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,430 shares of the industrial products company’s stock after selling 2,160 shares during the quarter. Cresset Asset Management LLC’s holdings in Kennametal were worth $1,500,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kennametal during the third quarter valued at approximately $30,000. Blue Trust Inc. increased its stake in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares during the period. 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 worth $35,000 after buying an additional 459 shares in the last quarter. Headlands Technologies LLC boosted its position in Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after buying an additional 1,444 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Kennametal by 801.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 2,181 shares in the last quarter.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey bought 10,000 shares of the firm’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 acquisition, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This represents a 14.79 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Kennametal Stock Up 0.1 %

Kennametal stock opened at $20.76 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The company has a 50-day simple moving average of $20.25 and a 200-day simple moving average of $23.49. The firm has a market capitalization of $1.61 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.69 and a beta of 1.39.

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

Kennametal Dividend Announcement

The business also recently announced 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. This represents a $0.80 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, May 13th. Kennametal’s dividend payout ratio is 65.57%.

Wall Street Analyst Weigh In

KMT has been the subject of a number of analyst reports. Barclays reduced their price target on Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Morgan Stanley decreased their price target on shares of Kennametal from $24.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, April 28th. One investment 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. According to data from MarketBeat, Kennametal presently has a consensus rating of “Hold” and a consensus target price of $25.20.

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.