Barrow Hanley Mewhinney & Strauss LLC lowered its position in shares of Kennametal Inc. (NYSE:KMT) by 23.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 93,795 shares of the industrial products company’s stock after selling 27,944 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 0.11% of Kennametal worth $3,122,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Pearl River Capital LLC bought a new position in Kennametal during the 4th quarter worth $30,000. Captrust Financial Advisors bought a new position in Kennametal during the 4th quarter worth $44,000. Jane Street Group LLC bought a new position in Kennametal during the 3rd quarter worth $211,000. Veritable L.P. bought a new position in Kennametal during the 3rd quarter worth $215,000. Finally, Meeder Asset Management Inc. bought a new position in Kennametal during the 4th quarter worth $170,000. Institutional investors and hedge funds own 99.68% of the company’s stock.
In other news, VP Patrick S. Watson sold 2,265 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $37.93, for a total transaction of $85,911.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michelle R. Keating sold 1,890 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $37.51, for a total value of $70,893.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,501 shares of company stock valued at $1,520,807. 2.00% of the stock is currently owned by company insiders.
Kennametal (NYSE:KMT) last announced its earnings results on Monday, February 4th. The industrial products company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. Kennametal had a return on equity of 19.73% and a net margin of 9.50%. The business had revenue of $587.40 million during the quarter, compared to the consensus estimate of $606.76 million. During the same period in the prior year, the business posted $0.52 earnings per share. Kennametal’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Kennametal Inc. will post 3.13 earnings per share for the current year.
Several research firms have recently issued reports on KMT. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Barclays raised Kennametal from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $38.00 to $44.00 in a research note on Wednesday, April 3rd. Finally, Zacks Investment Research cut Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Kennametal has an average rating of “Hold” and a consensus price target of $46.75.
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Kennametal Company Profile
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.
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