Nisa Investment Advisors LLC Sells 11,786 Shares of Kennametal Inc. (NYSE:KMT)

Nisa Investment Advisors LLC lessened its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 70.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,931 shares of the industrial products company's stock after selling 11,786 shares during the quarter. Nisa Investment Advisors LLC's holdings in Kennametal were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Kennametal by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock valued at $123,319,000 after purchasing an additional 101,159 shares during the last quarter. American Century Companies Inc. boosted its stake in Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock worth $61,106,000 after acquiring an additional 308,000 shares during the last quarter. Northern Trust Corp boosted its stake in Kennametal by 6.9% during the 4th quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company's stock worth $23,869,000 after acquiring an additional 63,770 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in Kennametal by 1.4% during the 4th quarter. Voloridge Investment Management LLC now owns 640,162 shares of the industrial products company's stock worth $15,377,000 after acquiring an additional 8,753 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock worth $11,270,000 after acquiring an additional 115,718 shares during the last quarter.

Kennametal Stock Performance

Shares of Kennametal stock traded down $0.30 during trading on Friday, reaching $24.55. The company's stock had a trading volume of 613,356 shares, compared to its average volume of 942,072. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The business's 50-day moving average price is $22.60 and its 200-day moving average price is $21.96. The company has a quick ratio of 1.10, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.87 billion, a PE ratio of 17.66, a P/E/G ratio of 3.37 and a beta of 1.40.

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

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Tuesday, May 13th. Kennametal's payout ratio is 57.55%.

Wall Street Analysts Forecast Growth

KMT has been the topic of a number of research reports. Wall Street Zen raised shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Morgan Stanley lifted their price target on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Loop Capital reaffirmed a "hold" rating and issued a $24.00 price target (up previously from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Finally, Barclays lifted their price objective on shares of Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Kennametal presently has a consensus rating of "Hold" and a consensus 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.