Burgundy Asset Management Ltd. Lowers Position in Kennametal Inc. (NYSE:KMT)

Burgundy Asset Management Ltd. cut its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,612,972 shares of the industrial products company's stock after selling 436,887 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 5.93% of Kennametal worth $110,804,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in Kennametal by 32.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock worth $11,270,000 after buying an additional 115,718 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Kennametal in the 4th quarter valued at $373,000. AMH Equity Ltd bought a new position in shares of Kennametal during the 4th quarter valued at $1,441,000. Amundi grew its holdings in shares of Kennametal by 174.7% during the 4th quarter. Amundi now owns 40,359 shares of the industrial products company's stock valued at $982,000 after purchasing an additional 25,666 shares during the last quarter. Finally, Invesco Ltd. raised its position in Kennametal by 4.1% in the 4th quarter. Invesco Ltd. now owns 426,083 shares of the industrial products company's stock worth $10,235,000 after purchasing an additional 16,926 shares during the period.

Kennametal Trading Down 0.7%

Shares of Kennametal stock traded down $0.16 during trading on Wednesday, reaching $21.58. 235,672 shares of the stock were exchanged, compared to its average volume of 878,032. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The stock's fifty day moving average is $20.24 and its 200 day moving average is $23.07.

Kennametal (NYSE:KMT - Get Free Report) last released 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 return on equity of 8.12% and a net margin of 4.76%. The business had revenue of $486.40 million during the quarter, compared to analysts' expectations of $489.30 million. During the same quarter last year, the business posted $0.30 EPS. The business's revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Tuesday, May 13th. Kennametal's payout ratio is currently 57.55%.

Wall Street Analysts Forecast Growth

KMT has been the topic of a number of recent research reports. Wall Street Zen raised Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Morgan Stanley increased their target price on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Barclays lifted their price target on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. 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. Based on data from MarketBeat, Kennametal has an average rating of "Hold" and a consensus target price of $25.80.

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.