Burgundy Asset Management Ltd. Sells 436,887 Shares of Kennametal Inc. (NYSE:KMT)

Burgundy Asset Management Ltd. lowered its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 about 5.93% of Kennametal worth $110,804,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Barclays PLC lifted its position in Kennametal by 95.6% in the third quarter. Barclays PLC now owns 163,670 shares of the industrial products company's stock worth $4,244,000 after purchasing an additional 79,992 shares during the period. Nisa Investment Advisors LLC lifted its position in Kennametal by 20.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,717 shares of the industrial products company's stock worth $402,000 after purchasing an additional 2,841 shares during the period. Inspire Investing LLC lifted its position in Kennametal by 3.8% in the fourth quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock worth $445,000 after purchasing an additional 672 shares during the period. Blue Trust Inc. lifted its position in Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after purchasing an additional 716 shares during the period. Finally, KBC Group NV lifted its position in Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after purchasing an additional 1,122 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KMT shares. Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barclays boosted their target price on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Morgan Stanley boosted their target price on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $25.80.

Kennametal Stock Up 3.4%

NYSE:KMT traded up $0.71 during trading hours on Tuesday, hitting $21.75. 585,097 shares of the company's stock traded hands, compared to its average volume of 880,555. The firm has a market cap of $1.66 billion, a P/E ratio of 17.82, a P/E/G ratio of 3.69 and a beta of 1.39. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The stock's fifty day moving average price is $20.24 and its two-hundred day moving average price is $23.08.

Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results 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 company 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 business's revenue was down 5.7% compared to the same quarter last year. On average, research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.68%. Kennametal's dividend payout ratio (DPR) is presently 57.55%.

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.