Kennametal Inc. (NYSE:KMT) Shares Sold by Cwm LLC

Cwm LLC decreased its stake in Kennametal Inc. (NYSE:KMT) by 33.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,968 shares of the industrial products company’s stock after selling 1,476 shares during the period. Cwm LLC’s holdings in Kennametal were worth $63,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of KMT. Curat Global LLC acquired a new position in Kennametal during the 1st quarter worth approximately $35,000. Parallel Advisors LLC grew its position in Kennametal by 107.6% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 1,015 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 1,444 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Kennametal during the first quarter worth $52,000. Finally, Sterling Capital Management LLC lifted its position in shares of Kennametal by 801.8% during the fourth 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 in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KMT. Barclays raised their price target on shares of Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Wall Street Zen raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Morgan Stanley lifted their target price on Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Finally, Loop Capital reiterated a “hold” rating and issued a $24.00 price target (up previously from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.40.

Kennametal Price Performance

KMT opened at $24.35 on Friday. The company has a market capitalization of $1.86 billion, a P/E ratio of 17.52, a PEG ratio of 3.34 and a beta of 1.44. The company has a 50-day moving average of $23.28 and a 200-day moving average of $22.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.10 and a current ratio of 2.44. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18.

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, beating the consensus estimate of $0.26 by $0.21. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. 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 company earned $0.30 earnings per share. Kennametal’s quarterly revenue was down 5.7% on a year-over-year basis. Equities analysts expect that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 12th. This represents a $0.80 annualized dividend and a yield of 3.3%. Kennametal’s payout ratio is presently 57.55%.

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.