Kennametal Inc. (NYSE:KMT) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd lowered its stake in shares of Kennametal Inc. (NYSE:KMT) by 72.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,350 shares of the industrial products company’s stock after selling 95,536 shares during the quarter. WINTON GROUP Ltd’s holdings in Kennametal were worth $856,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp boosted its position in Kennametal by 0.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock worth $1,730,000 after acquiring an additional 610 shares during the period. Illinois Municipal Retirement Fund boosted its position in Kennametal by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,515 shares of the industrial products company’s stock worth $1,135,000 after acquiring an additional 684 shares during the period. ProShare Advisors LLC boosted its position in Kennametal by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock worth $401,000 after acquiring an additional 945 shares during the period. CWM LLC boosted its position in Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 970 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Kennametal during the 1st quarter worth $32,000.

Kennametal Stock Up 0.5 %

Shares of Kennametal stock opened at $25.66 on Wednesday. The stock’s fifty day moving average is $24.88 and its 200-day moving average is $24.62. The firm has a market capitalization of $2.02 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 2.62 and a beta of 1.65. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. Kennametal Inc. has a 12-month low of $22.08 and a 12-month high of $27.04.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The firm had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. During the same period in the previous year, the firm earned $0.51 earnings per share. Kennametal’s quarterly revenue was down 1.3% on a year-over-year basis. Equities analysts anticipate that Kennametal Inc. will post 1.51 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.12%. Kennametal’s dividend payout ratio (DPR) is currently 59.26%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KMT. Loop Capital boosted their price target on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Barclays boosted their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, Kennametal has an average rating of “Hold” and a consensus target price of $24.17.

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.