Rhumbline Advisers Cuts Stock Position in Kennametal Inc. (NYSE:KMT)

Rhumbline Advisers trimmed its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 12.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 233,299 shares of the industrial products company's stock after selling 31,942 shares during the period. Rhumbline Advisers owned approximately 0.30% of Kennametal worth $4,969,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in Kennametal by 107.6% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock valued at $42,000 after buying an additional 1,015 shares during the last quarter. Headlands Technologies LLC increased its holdings in Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after buying an additional 1,444 shares during the last quarter. Sterling Capital Management LLC boosted 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. Bank of Montreal Can boosted its position in shares of 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 during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Kennametal by 21.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,229 shares of the industrial products company's stock worth $270,000 after purchasing an additional 1,977 shares during the period.

Kennametal Stock Up 1.7%

NYSE KMT traded up $0.36 during trading on Monday, reaching $22.25. 688,297 shares of the company's stock traded hands, compared to its average volume of 893,984. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 3.69 and a beta of 1.40. The company's 50 day simple moving average is $20.60 and its two-hundred day simple moving average is $22.36. 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 posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. The business had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The company's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. As a group, sell-side analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Tuesday, May 13th. Kennametal's payout ratio is currently 57.55%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KMT shares. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barclays upped their target price on shares of 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 upped 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $25.80.

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.