Quadrature Capital Ltd Reduces Stock Holdings in Kennametal Inc. (NYSE:KMT)

Quadrature Capital Ltd cut its position in Kennametal Inc. (NYSE:KMT) by 54.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,105 shares of the industrial products company’s stock after selling 13,354 shares during the quarter. Quadrature Capital Ltd’s holdings in Kennametal were worth $288,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KMT. Dynamic Technology Lab Private Ltd bought a new stake in Kennametal during the 3rd quarter valued at $804,000. Azarias Capital Management L.P. grew its position in shares of Kennametal by 34.9% in the second quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company’s stock valued at $6,106,000 after purchasing an additional 67,139 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Kennametal by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock valued at $48,292,000 after purchasing an additional 20,634 shares during the period. Brandes Investment Partners LP lifted its holdings in Kennametal by 35.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock worth $54,798,000 after purchasing an additional 606,477 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in Kennametal in the 2nd quarter worth about $1,202,000.

Kennametal Stock Down 0.6 %

Shares of NYSE:KMT opened at $27.14 on Wednesday. The firm has a market capitalization of $2.11 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. Kennametal Inc. has a 52-week low of $22.50 and a 52-week high of $32.18. The firm has a fifty day moving average of $27.07 and a 200 day moving average of $25.55.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 EPS. As a group, research analysts anticipate that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Insider Transactions at Kennametal

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the transaction, the vice president now directly owns 39,581 shares of the company’s stock, valued at $1,117,767.44. The trade was a 34.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Wayne Witt sold 1,765 shares of the business’s 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 completion of the sale, the vice president now owns 1,642 shares of the company’s stock, valued at $48,192.70. The trade was a 51.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Loop Capital boosted their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 19th. StockNews.com downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Kennametal currently has an average rating of “Hold” and an average target price of $26.17.

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.