Geode Capital Management LLC Lowers Stake in Kennametal Inc. (NYSE:KMT)

Geode Capital Management LLC cut its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,784,558 shares of the industrial products company's stock after selling 31,381 shares during the quarter. Geode Capital Management LLC owned approximately 2.30% of Kennametal worth $42,876,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kennametal in the 3rd quarter worth approximately $30,000. Blue Trust Inc. raised its stake in Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after buying an additional 716 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock worth $35,000 after buying an additional 459 shares during the period. KBC Group NV boosted its position in Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 1,122 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Kennametal by 21.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,229 shares of the industrial products company's stock valued at $270,000 after acquiring an additional 1,977 shares during the period.

Kennametal Price Performance

Shares of NYSE:KMT traded down $0.18 during trading on Friday, reaching $18.64. 680,088 shares of the company's stock traded hands, compared to its average volume of 857,780. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a 50-day simple moving average of $21.02 and a 200-day simple moving average of $24.09. The firm has a market cap of $1.44 billion, a PE ratio of 15.28, a P/E/G ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Tuesday, February 11th. Kennametal's dividend payout ratio is presently 65.57%.

Insider Buying and Selling

In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.41% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KMT shares. Morgan Stanley decreased their price objective on Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday. StockNews.com lowered shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Finally, Barclays cut their price objective on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $25.20.

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.