Moody Aldrich Partners LLC Decreases Stake in Kennametal Inc. (NYSE:KMT)

Moody Aldrich Partners LLC reduced its stake in Kennametal Inc. (NYSE:KMT) by 50.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,111 shares of the industrial products company’s stock after selling 57,563 shares during the quarter. Moody Aldrich Partners LLC owned about 0.07% of Kennametal worth $2,076,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its position in shares of Kennametal by 6.5% in the 1st quarter. Meeder Asset Management Inc. now owns 5,412 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 332 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Kennametal by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 33,162 shares of the industrial products company’s stock worth $1,227,000 after buying an additional 470 shares during the last quarter. Retirement Systems of Alabama raised its position in Kennametal by 0.6% during the 1st quarter. Retirement Systems of Alabama now owns 107,047 shares of the industrial products company’s stock worth $3,934,000 after buying an additional 601 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Kennametal by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 32,060 shares of the industrial products company’s stock worth $1,186,000 after buying an additional 700 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in Kennametal by 1.7% during the 1st quarter. Mason Street Advisors LLC now owns 43,730 shares of the industrial products company’s stock worth $1,607,000 after buying an additional 724 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. KeyCorp reduced their price target on shares of Kennametal from $52.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. ValuEngine lowered shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Bank of America reduced their price target on shares of Kennametal from $30.00 to $27.00 and set an “underperform” rating for the company in a research report on Tuesday. Finally, Goldman Sachs Group lowered shares of Kennametal from a “buy” rating to a “sell” rating and reduced their price target for the stock from $43.00 to $30.00 in a research report on Tuesday, July 16th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.13.

In other news, Director Lawrence W. Stranghoener sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $31.98, for a total transaction of $223,860.00. Following the sale, the director now owns 26,108 shares of the company’s stock, valued at approximately $834,933.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

KMT opened at $31.31 on Wednesday. Kennametal Inc. has a 12-month low of $30.01 and a 12-month high of $45.10. The company has a quick ratio of 1.34, a current ratio of 2.70 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.23 and a beta of 2.24. The stock’s 50 day simple moving average is $34.54.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The firm had revenue of $603.95 million for the quarter, compared to analyst estimates of $643.95 million. Kennametal had a return on equity of 19.66% and a net margin of 10.28%. Kennametal’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. As a group, equities research analysts anticipate that Kennametal Inc. will post 3.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. Kennametal’s payout ratio is 26.49%.

About Kennametal

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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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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