Nisa Investment Advisors LLC Has $736,000 Stock Holdings in Kennametal Inc. (NYSE:KMT)

Nisa Investment Advisors LLC lessened its holdings in shares of Kennametal Inc. (NYSE:KMT) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 28,536 shares of the industrial products company’s stock after selling 710 shares during the period. Nisa Investment Advisors LLC’s holdings in Kennametal were worth $736,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Kennametal by 1.3% during 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 acquiring an additional 420 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Kennametal by 3.5% in the 3rd quarter. Mackenzie Financial Corp now owns 15,223 shares of the industrial products company’s stock valued at $371,000 after buying an additional 513 shares during the period. Federated Hermes Inc. grew its holdings in shares of Kennametal by 2.9% in the 3rd quarter. Federated Hermes Inc. now owns 18,750 shares of the industrial products company’s stock valued at $466,000 after buying an additional 521 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Kennametal by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 44,482 shares of the industrial products company’s stock valued at $1,273,000 after buying an additional 550 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of 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 valued at $83,000 after buying an additional 605 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KMT shares. Barclays decreased their price target on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their price target on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Morgan Stanley initiated coverage on shares of Kennametal in a report on Monday, January 8th. They issued an “equal weight” rating and a $24.00 price target for the company. Finally, StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.58.

Insiders Place Their Bets

In other Kennametal news, VP John Wayne Witt sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $25.55, for a total transaction of $25,550.00. Following the sale, 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 at this link. Insiders own 1.79% of the company’s stock.

Kennametal Trading Down 0.3 %

Shares of NYSE:KMT opened at $23.79 on Wednesday. The company’s 50-day moving average price is $24.43 and its two-hundred day moving average price is $24.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.44 and a quick ratio of 1.06. Kennametal Inc. has a one year low of $22.08 and a one year high of $30.60. The stock has a market capitalization of $1.89 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 3.15 and a beta of 1.78.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. Kennametal had a net margin of 5.86% and a return on equity of 9.94%. The firm had revenue of $495.30 million for the quarter, compared to analysts’ expectations of $498.99 million. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts forecast that Kennametal Inc. will post 1.49 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a dividend of $0.20 per share. The ex-dividend date was Monday, February 12th. This represents a $0.80 annualized dividend and a yield of 3.36%. Kennametal’s dividend payout ratio (DPR) is presently 53.33%.

Kennametal declared that its board has authorized a stock repurchase program on Wednesday, February 7th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 10.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.