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

PDT Partners LLC trimmed its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 75.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,346 shares of the industrial products company's stock after selling 32,656 shares during the period. PDT Partners LLC's holdings in Kennametal were worth $249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Kennametal by 95.6% in the third quarter. Barclays PLC now owns 163,670 shares of the industrial products company's stock valued at $4,244,000 after purchasing an additional 79,992 shares during the period. Virtu Financial LLC bought a new position in Kennametal in the 3rd quarter worth $342,000. Wilmington Savings Fund Society FSB acquired a new position in Kennametal during the 3rd quarter worth $30,000. JPMorgan Chase & Co. boosted its holdings in Kennametal by 48.8% during the third quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company's stock valued at $6,286,000 after acquiring an additional 79,547 shares during the period. Finally, GAMMA Investing LLC boosted 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 valued at $35,000 after acquiring an additional 459 shares during the period.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey bought 10,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.41% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on KMT shares. Morgan Stanley decreased their target price 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. Barclays lowered 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 note on Thursday, April 10th. Finally, StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kennametal currently has a consensus rating of "Hold" and an average target price of $25.20.

Kennametal Price Performance

Shares of NYSE:KMT opened at $20.17 on Friday. The firm has a market capitalization of $1.56 billion, a PE ratio of 16.53, a PEG ratio of 3.69 and a beta of 1.39. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18. The business's 50 day moving average is $20.41 and its 200-day moving average is $23.70.

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

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Tuesday, May 13th. Kennametal's dividend payout ratio is 65.57%.

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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