Marshall Wace LLP Decreases Stock Holdings in Kennametal Inc. (NYSE:KMT)

Marshall Wace LLP reduced its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 78.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,054 shares of the industrial products company's stock after selling 204,690 shares during the quarter. Marshall Wace LLP owned approximately 0.07% of Kennametal worth $1,322,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Kennametal in the third quarter valued at about $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 valued at $34,000 after buying an additional 716 shares during the last quarter. GAMMA Investing LLC raised its stake in Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after buying an additional 459 shares during the last quarter. Headlands Technologies LLC raised 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 buying an additional 1,444 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake 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 valued at $59,000 after buying an additional 2,181 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research note on Monday. Barclays reduced their price objective on Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley reduced 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, April 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $25.20.

Insider Buying and Selling at Kennametal

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

Kennametal Stock Down 0.5 %

Kennametal stock opened at $19.34 on Tuesday. 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 52 week low of $17.30 and a 52 week high of $32.18. The business's 50-day moving average price is $20.62 and its 200 day moving average price is $23.83. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 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, sell-side analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

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.

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