Quantbot Technologies LP Sells 2,718 Shares of Kennametal Inc. (NYSE:KMT)

Quantbot Technologies LP reduced its stake in shares of Kennametal Inc. (NYSE:KMT) by 12.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,795 shares of the industrial products company’s stock after selling 2,718 shares during the quarter. Quantbot Technologies LP’s holdings in Kennametal were worth $487,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in Kennametal during the 3rd quarter worth approximately $804,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Kennametal by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,423,495 shares of the industrial products company’s stock valued at $36,911,000 after purchasing an additional 67,392 shares during the period. Intech Investment Management LLC bought a new position in shares of Kennametal in the third quarter worth approximately $555,000. Quest Partners LLC increased its stake in shares of Kennametal by 2,429.9% in the third quarter. Quest Partners LLC now owns 46,929 shares of the industrial products company’s stock worth $1,217,000 after buying an additional 45,074 shares during the period. Finally, Natixis Advisors LLC raised its holdings in Kennametal by 20.6% during the 3rd quarter. Natixis Advisors LLC now owns 14,158 shares of the industrial products company’s stock valued at $367,000 after buying an additional 2,415 shares during the last quarter.

Kennametal Stock Down 1.7 %

KMT stock opened at $28.58 on Wednesday. Kennametal Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $32.18. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.44 and a beta of 1.65. The business’s 50 day moving average price is $26.85 and its two-hundred day moving average price is $25.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The company had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, analysts forecast that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal’s dividend payout ratio is 62.50%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital boosted their price target on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. Barclays lifted their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.00.

Insider Activity

In related news, VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the transaction, the vice president now owns 1,642 shares in the company, valued at $48,192.70. The trade was a 51.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.41% of the company’s stock.

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.