Kennametal Inc. (NYSE:KMT) Stake Trimmed by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 728,758 shares of the industrial products company's stock after selling 25,247 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.94% of Kennametal worth $17,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 459 shares in the last quarter. Sei Investments Co. boosted its position in shares of Kennametal by 1.8% in the fourth quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock worth $831,000 after buying an additional 609 shares during the period. Inspire Investing LLC grew its holdings in shares of Kennametal by 3.8% during the fourth quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock valued at $445,000 after buying an additional 672 shares in the last quarter. Blue Trust Inc. raised its position in Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after buying an additional 716 shares during the period. Finally, Bank of Montreal Can lifted its stake in Kennametal by 10.5% in the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock worth $227,000 after acquiring an additional 898 shares in the last quarter.

Insider Activity at Kennametal

In related news, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were bought at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,595 shares in the company, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is owned by company insiders.

Kennametal Price Performance

Shares of KMT opened at $19.42 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The firm has a market cap of $1.50 billion, a PE ratio of 15.91, a PEG ratio of 3.69 and a beta of 1.55. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The firm's 50 day moving average price is $20.69 and its 200 day moving average price is $23.88.

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

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Tuesday, February 11th. Kennametal's dividend payout ratio is 65.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KMT. StockNews.com downgraded Kennametal from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Morgan Stanley dropped their price objective on shares of Kennametal from $24.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Barclays decreased their target price on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. One equities 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 has a consensus rating of "Hold" and a consensus target price of $25.20.

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.

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