Hsbc Holdings PLC Sells 51,909 Shares of Kennametal Inc. $KMT

Hsbc Holdings PLC reduced its holdings in shares of Kennametal Inc. (NYSE:KMT) by 80.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,769 shares of the industrial products company’s stock after selling 51,909 shares during the quarter. Hsbc Holdings PLC’s holdings in Kennametal were worth $271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Curat Global LLC bought a new position in shares of Kennametal during the 1st quarter worth approximately $35,000. Parallel Advisors LLC boosted its stake in shares of Kennametal by 107.6% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 1,015 shares during the period. US Bancorp DE boosted its stake in shares of Kennametal by 93.4% during the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 1,036 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Kennametal during the 1st quarter worth approximately $52,000. Finally, Bayforest Capital Ltd bought a new position in shares of Kennametal during the 1st quarter worth approximately $64,000.

Kennametal Price Performance

Shares of KMT stock opened at $21.80 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The company has a market cap of $1.66 billion, a P/E ratio of 18.17, a P/E/G ratio of 3.77 and a beta of 1.44. The business has a fifty day simple moving average of $23.02 and a 200 day simple moving average of $21.73.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The business had revenue of $516.45 million for the quarter, compared to the consensus estimate of $527.52 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. Kennametal’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, August 12th. Kennametal’s dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

KMT has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on Kennametal from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. Wall Street Zen raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Morgan Stanley lifted their price target on Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Loop Capital reissued a “hold” rating and set a $24.00 price target (up from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Finally, Barclays lifted their price target on Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $24.00.

About Kennametal

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.