PDT Partners LLC Sells 32,656 Shares of Kennametal Inc. (NYSE:KMT)

PDT Partners LLC cut its position in Kennametal Inc. (NYSE:KMT - Free Report) by 75.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,346 shares of the industrial products company's stock after selling 32,656 shares during the quarter. PDT Partners LLC's holdings in Kennametal were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its position in Kennametal by 6.9% during the 4th quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company's stock worth $23,869,000 after buying an additional 63,770 shares during the period. Aquatic Capital Management LLC grew its position in Kennametal by 51.2% in the fourth quarter. Aquatic Capital Management LLC now owns 67,285 shares of the industrial products company's stock valued at $1,616,000 after acquiring an additional 22,785 shares during the last quarter. HBK Investments L P acquired a new position in Kennametal during the fourth quarter worth about $955,000. Voya Investment Management LLC lifted its holdings in shares of Kennametal by 13.0% in the fourth quarter. Voya Investment Management LLC now owns 191,950 shares of the industrial products company's stock worth $4,611,000 after acquiring an additional 22,092 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Kennametal by 10.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 50,357 shares of the industrial products company's stock valued at $1,210,000 after purchasing an additional 4,792 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on KMT shares. Barclays dropped their price objective 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. Morgan Stanley reduced their price objective on Kennametal from $24.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $25.20.

Kennametal Trading Up 5.1 %

Shares of NYSE KMT traded up $1.00 during trading on Thursday, reaching $20.76. The company had a trading volume of 440,360 shares, compared to its average volume of 869,288. The stock has a market cap of $1.61 billion, a P/E ratio of 17.02, a PEG ratio of 3.69 and a beta of 1.39. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The company's fifty day moving average price is $20.27 and its 200-day moving average price is $23.57.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.85%. Kennametal's dividend payout ratio is presently 65.57%.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the company's stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.41% 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.