The Manufacturers Life Insurance Company Cuts Stock Position in Kennametal Inc. (NYSE:KMT)

The Manufacturers Life Insurance Company decreased its stake in shares of Kennametal Inc. (NYSE:KMT) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,257 shares of the industrial products company’s stock after selling 1,574 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Kennametal worth $943,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in Kennametal by 120.9% during 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 increased its holdings in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the period. Headlands Technologies LLC increased its holdings in Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 1,444 shares during the period. Sterling Capital Management LLC increased its holdings in Kennametal by 801.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 2,181 shares during the period. Finally, KBC Group NV increased its holdings in Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 1,122 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Monday, April 28th. Morgan Stanley upped their price target on Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Barclays upped their price target on Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday. One 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 MarketBeat.com, Kennametal presently has a consensus rating of “Hold” and a consensus target price of $25.80.

Kennametal Trading Down 1.9%

KMT opened at $21.75 on Thursday. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The company has a market cap of $1.66 billion, a P/E ratio of 17.83, a PEG ratio of 3.69 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The business’s 50-day simple moving average is $20.25 and its 200-day simple moving average is $23.44.

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

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.68%. Kennametal’s dividend payout ratio is presently 57.55%.

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.