California State Teachers Retirement System Sells 1,497 Shares of Kennametal Inc. (NYSE:KMT)

California State Teachers Retirement System trimmed its position in Kennametal Inc. (NYSE:KMT) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,533 shares of the industrial products company’s stock after selling 1,497 shares during the period. California State Teachers Retirement System owned 0.09% of Kennametal worth $1,670,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new stake in Kennametal during the fourth quarter valued at $962,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Kennametal by 24.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 212,536 shares of the industrial products company’s stock valued at $5,105,000 after acquiring an additional 41,163 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Kennametal by 1.4% in the 4th quarter. Voloridge Investment Management LLC now owns 640,162 shares of the industrial products company’s stock valued at $15,377,000 after acquiring an additional 8,753 shares in the last quarter. Vident Advisory LLC bought a new stake in shares of Kennametal during the 4th quarter valued at about $487,000. Finally, Twinbeech Capital LP purchased a new position in shares of Kennametal during the fourth quarter worth about $410,000.

Kennametal Stock Up 0.7%

Shares of KMT opened at $21.96 on Monday. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The stock has a 50 day simple moving average of $20.21 and a two-hundred day simple moving average of $22.63. The firm has a market cap of $1.67 billion, a P/E ratio of 18.00, a P/E/G ratio of 3.69 and a beta of 1.40.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The firm had revenue of $486.40 million during the quarter, compared to analyst estimates of $489.30 million. During the same period in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts forecast that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.64%. Kennametal’s dividend payout ratio (DPR) is currently 57.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KMT. Barclays raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Morgan Stanley raised their price objective on shares of Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Kennametal presently has a consensus rating of “Hold” and a consensus price target of $25.80.

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.