Heartland Advisors Inc. Sells 43,986 Shares of Kennametal Inc. (NYSE:KMT)

Key Points

• Heartland Advisors Inc. has reduced its stake in Kennametal Inc. by 29.1%, holding approximately $2.28 million worth of shares after selling 43,986 shares in the first quarter.
• Kennametal recently announced a quarterly dividend of $0.20 per share, representing an annualized dividend yield of 3.15%.
• The company reported earnings of $0.47 per share for the most recent quarter, exceeding analysts' estimates, but its revenue decreased by 5.7% year-over-year.

Heartland Advisors Inc. reduced its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,076 shares of the industrial products company's stock after selling 43,986 shares during the quarter. Heartland Advisors Inc. owned 0.14% of Kennametal worth $2,281,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Curat Global LLC bought a new position in shares of Kennametal in the 1st quarter valued at about $35,000. Parallel Advisors LLC boosted its stake in shares of Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 1,015 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of 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 purchasing an additional 1,444 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock valued at $59,000 after purchasing an additional 2,181 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Kennametal in the 1st quarter valued at about $52,000.

Kennametal Price Performance

KMT stock traded down $0.04 during midday trading on Tuesday, reaching $25.24. The company had a trading volume of 702,039 shares, compared to its average volume of 1,018,161. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.42 and a beta of 1.40. The stock has a 50 day moving average price of $23.01 and a 200-day moving average price of $22.00. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. The firm had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. The business's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. Equities research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.17%. The ex-dividend date was Tuesday, May 13th. Kennametal's dividend payout ratio (DPR) is presently 57.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KMT shares. Barclays increased their price target on shares of Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Morgan Stanley increased their price target on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Loop Capital reiterated a "hold" rating and issued a $24.00 price target (up from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $25.40.

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.