Tudor Investment Corp ET AL Cuts Stock Position in Kennametal Inc. (NYSE:KMT)

Tudor Investment Corp ET AL cut its holdings in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,510 shares of the industrial products company's stock after selling 17,550 shares during the quarter. Tudor Investment Corp ET AL's holdings in Kennametal were worth $613,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in Kennametal during the third quarter worth about $30,000. Blue Trust Inc. raised its holdings in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC lifted 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 purchasing an additional 459 shares during the last quarter. Headlands Technologies LLC grew its holdings in Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 1,444 shares during the period. Finally, Sterling Capital Management LLC increased its position 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 worth $59,000 after buying an additional 2,181 shares during the last quarter.

Analyst Upgrades and Downgrades

KMT has been the subject of several recent research reports. Morgan Stanley decreased their price objective on Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Finally, Barclays lowered their price target on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $25.20.

Insider Activity

In related news, CEO Sanjay Chowbey bought 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was acquired at an average cost 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. This trade represents a 14.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.41% of the company's stock.

Kennametal Trading Down 0.5 %

Shares of KMT opened at $19.72 on Thursday. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The stock has a market cap of $1.53 billion, a PE ratio of 16.16, a P/E/G ratio of 3.69 and a beta of 1.39. 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 business's 50-day moving average price is $20.27 and its 200-day moving average price is $23.57.

Kennametal (NYSE:KMT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.21. The business had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. On average, equities analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal 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 issued a $0.20 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.06%. Kennametal's payout ratio is currently 65.57%.

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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