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

Nisa Investment Advisors LLC trimmed its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 70.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KMT. Curat Global LLC acquired a new stake in shares of Kennametal in the 1st quarter valued at approximately $35,000. Parallel Advisors LLC increased its position in Kennametal by 107.6% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock worth $42,000 after buying an additional 1,015 shares during the period. Headlands Technologies LLC increased its position in shares of Kennametal by 214.2% in the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock worth $51,000 after purchasing an additional 1,444 shares during the period. Sterling Capital Management LLC increased its position in shares of Kennametal by 801.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock worth $59,000 after purchasing an additional 2,181 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Kennametal in the first quarter worth $52,000.

Wall Street Analysts Forecast Growth

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

Kennametal Trading Up 3.0%

Kennametal stock traded up $0.73 during trading hours on Tuesday, reaching $25.24. The company had a trading volume of 662,201 shares, compared to its average volume of 942,775. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10. The company has a 50-day moving average price of $22.60 and a 200 day moving average price of $21.95. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 3.30 and a beta of 1.40. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating 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 company had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same period in the previous year, the company posted $0.30 earnings per share. The firm's 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 Dividend Announcement

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

Kennametal 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.