SG Americas Securities LLC Has $109,000 Position in Kennametal Inc. (NYSE:KMT)

SG Americas Securities LLC cut its stake in shares of Kennametal Inc. (NYSE:KMT) by 94.2% in the fourth quarter, Holdings Channel reports. The fund owned 4,218 shares of the industrial products company’s stock after selling 68,305 shares during the period. SG Americas Securities LLC’s holdings in Kennametal were worth $109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in Kennametal during the 2nd quarter valued at $32,000. Advisor Group Holdings Inc. raised its holdings in shares of Kennametal by 88.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,621 shares of the industrial products company’s stock valued at $40,000 after buying an additional 759 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Kennametal during the 3rd quarter worth about $62,000. Neo Ivy Capital Management bought a new stake in Kennametal during the 2nd quarter worth about $77,000. Finally, Acadian Asset Management LLC acquired a new stake in Kennametal in the 3rd quarter valued at about $82,000.

Insider Activity at Kennametal

In related news, VP John Wayne Witt sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $25.55, for a total transaction of $25,550.00. Following the completion of the transaction, the vice president now owns 1,343 shares in the company, valued at $34,313.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Kennametal Price Performance

Shares of KMT stock opened at $24.50 on Friday. The firm’s 50 day moving average price is $24.43 and its two-hundred day moving average price is $24.34. 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 Inc. has a 52-week low of $22.08 and a 52-week high of $30.60. The stock has a market cap of $1.94 billion, a PE ratio of 16.33, a PEG ratio of 3.20 and a beta of 1.78.

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

Kennametal declared that its board has initiated a share repurchase plan on Wednesday, February 7th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a $0.20 dividend. The ex-dividend date was Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.27%. Kennametal’s dividend payout ratio (DPR) is presently 53.33%.

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.