SG Americas Securities LLC Sells 68,305 Shares of Kennametal Inc. (NYSE:KMT)

SG Americas Securities LLC lowered its position in Kennametal Inc. (NYSE:KMT - Free Report) by 94.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,218 shares of the industrial products company's stock after selling 68,305 shares during the quarter. SG Americas Securities LLC's holdings in Kennametal were worth $109,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Kennametal by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,888 shares of the industrial products company's stock worth $787,000 after purchasing an additional 420 shares during the period. Mackenzie Financial Corp boosted its stake in Kennametal by 3.5% in the 3rd quarter. Mackenzie Financial Corp now owns 15,223 shares of the industrial products company's stock worth $371,000 after purchasing an additional 513 shares during the period. Federated Hermes Inc. boosted its stake in Kennametal by 2.9% in the 3rd quarter. Federated Hermes Inc. now owns 18,750 shares of the industrial products company's stock worth $466,000 after purchasing an additional 521 shares during the period. Yousif Capital Management LLC boosted its stake in Kennametal by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 44,482 shares of the industrial products company's stock worth $1,273,000 after purchasing an additional 550 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Kennametal by 22.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,328 shares of the industrial products company's stock worth $83,000 after purchasing an additional 605 shares during the period.

Kennametal Price Performance

NYSE:KMT traded up $0.41 during mid-day trading on Friday, reaching $24.51. The stock had a trading volume of 657,546 shares, compared to its average volume of 473,178. The firm has a 50 day moving average price of $24.43 and a two-hundred day moving average price of $24.34. The stock has a market capitalization of $1.94 billion, a P/E ratio of 16.34, a P/E/G ratio of 3.23 and a beta of 1.78. Kennametal Inc. has a one year low of $22.08 and a one year high of $30.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 2.44.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, February 7th. The industrial products company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The company had revenue of $495.30 million during the quarter, compared to the consensus estimate of $498.99 million. Kennametal had a return on equity of 9.94% and a net margin of 5.86%. Kennametal's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. As a group, analysts expect that Kennametal Inc. will post 1.49 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a $0.20 dividend. The ex-dividend date was Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a yield of 3.26%. Kennametal's payout ratio is 53.33%.

Kennametal declared that its Board of Directors has approved a share buyback program on Wednesday, February 7th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays cut their target price on Kennametal from $25.00 to $24.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price target on Kennametal from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Thursday, February 8th. Morgan Stanley assumed coverage on Kennametal in a research report on Monday, January 8th. They set an "equal weight" rating and a $24.00 price target for the company. Finally, StockNews.com downgraded Kennametal from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. Based on data from MarketBeat.com, Kennametal currently has an average rating of "Hold" and a consensus price target of $24.58.

Insider Buying and Selling

In other Kennametal news, VP John Wayne Witt sold 1,000 shares of Kennametal stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $25.55, for a total value of $25,550.00. Following the transaction, the vice president now directly owns 1,343 shares of the company's stock, valued at approximately $34,313.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.61% of the stock is currently owned by corporate insiders.

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.