Azarias Capital Management L.P. Sells 49,290 Shares of Kennametal Inc. (NYSE:KMT)

Azarias Capital Management L.P. decreased its stake in shares of Kennametal Inc. (NYSE:KMT) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,281 shares of the industrial products company’s stock after selling 49,290 shares during the quarter. Kennametal makes up 2.1% of Azarias Capital Management L.P.’s portfolio, making the stock its 20th largest position. Azarias Capital Management L.P. owned 0.25% of Kennametal worth $4,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in shares of Kennametal during the second quarter worth approximately $451,000. SG Americas Securities LLC raised its position in Kennametal by 74.6% during the 3rd quarter. SG Americas Securities LLC now owns 12,173 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 5,202 shares in the last quarter. CWM LLC grew its position in shares of Kennametal by 40.3% during the 3rd quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock worth $111,000 after buying an additional 1,230 shares in the last quarter. Inspire Advisors LLC purchased a new position in shares of Kennametal during the third quarter valued at $204,000. Finally, Signaturefd LLC raised its holdings in shares of Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,008 shares in the last quarter.

Kennametal Price Performance

Shares of KMT opened at $22.27 on Thursday. The company has a 50 day moving average of $24.44 and a two-hundred day moving average of $25.54. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a twelve month low of $20.50 and a twelve month high of $32.18. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.57 and a beta of 1.66.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, analysts predict that Kennametal Inc. will post 1.18 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.59%. Kennametal’s payout ratio is 65.57%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Loop Capital increased their price objective on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Barclays reduced their price objective on shares of Kennametal from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Finally, Morgan Stanley reduced their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kennametal has an average rating of “Hold” and a consensus target price of $27.60.

Insider Activity

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

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.