Rhumbline Advisers Sells 31,942 Shares of Kennametal Inc. (NYSE:KMT)

Rhumbline Advisers decreased its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 233,299 shares of the industrial products company's stock after selling 31,942 shares during the period. Rhumbline Advisers owned about 0.30% of Kennametal worth $4,969,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KMT. Parallel Advisors LLC boosted its stake in shares of 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 acquiring an additional 1,015 shares in the last quarter. Headlands Technologies LLC increased its stake in Kennametal by 214.2% in the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 1,444 shares during the period. Sterling Capital Management LLC raised its position in 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 in the last quarter. Bank of Montreal Can raised its position in Kennametal by 10.5% in the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock worth $227,000 after purchasing an additional 898 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Kennametal by 699.1% during the first quarter. GAMMA Investing LLC now owns 11,651 shares of the industrial products company's stock worth $248,000 after purchasing an additional 10,193 shares during the period.

Analyst Upgrades and Downgrades

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

Kennametal Price Performance

Shares of Kennametal stock traded down $0.41 during trading on Friday, reaching $21.85. The company's stock had a trading volume of 689,229 shares, compared to its average volume of 894,384. The stock has a 50-day moving average price of $20.42 and a two-hundred day moving average price of $22.53. The stock has a market capitalization of $1.67 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 3.69 and a beta of 1.40. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.21. The firm had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. As a group, sell-side analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.66%. Kennametal's payout ratio 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.