Nisa Investment Advisors LLC Sells 11,786 Shares of Kennametal Inc. (NYSE:KMT)

Nisa Investment Advisors LLC trimmed its position in Kennametal Inc. (NYSE:KMT) by 70.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,931 shares of the industrial products company’s stock after selling 11,786 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Kennametal were worth $105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KMT. Janney Montgomery Scott LLC increased its holdings in Kennametal by 17.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 2,000 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock worth $11,270,000 after buying an additional 115,718 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Kennametal in the 4th quarter valued at about $373,000. GAMMA Investing LLC raised its position in shares of Kennametal by 699.1% in the 1st quarter. GAMMA Investing LLC now owns 11,651 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 10,193 shares during the period. Finally, Invesco Ltd. boosted its stake in Kennametal by 4.1% during the 4th quarter. Invesco Ltd. now owns 426,083 shares of the industrial products company’s stock worth $10,235,000 after acquiring an additional 16,926 shares during the last quarter.

Kennametal Trading Down 1.2%

KMT opened at $24.55 on Friday. The stock has a market capitalization of $1.87 billion, a P/E ratio of 17.66, a P/E/G ratio of 3.41 and a beta of 1.40. The company has a current ratio of 2.44, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The firm’s fifty day simple moving average is $22.60 and its 200 day simple moving average is $21.98.

Kennametal (NYSE:KMT) last issued its quarterly earnings results 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. The company had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, research analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Tuesday, May 13th. Kennametal’s dividend payout ratio (DPR) is currently 57.55%.

Analyst Ratings Changes

Several brokerages have commented on KMT. Barclays upped 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. Loop Capital restated a “hold” rating and issued a $24.00 price objective (up previously from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Morgan Stanley lifted their target price on Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.40.

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.