Fisher Asset Management LLC Reduces Position in Kennametal Inc. (NYSE:KMT)

Fisher Asset Management LLC cut its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,986,087 shares of the industrial products company's stock after selling 121,522 shares during the quarter. Fisher Asset Management LLC owned 2.56% of Kennametal worth $47,706,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in Kennametal during the third quarter valued at $30,000. Blue Trust Inc. lifted its holdings in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 459 shares during the last quarter. KBC Group NV grew its position in Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Covestor Ltd increased its stake in Kennametal by 14.4% during the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company's stock worth $97,000 after acquiring an additional 472 shares during the last quarter.

Kennametal Stock Performance

Shares of KMT stock traded up $0.14 during trading hours on Thursday, hitting $21.70. The company's stock had a trading volume of 298,306 shares, compared to its average volume of 1,005,359. The stock has a market cap of $1.68 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 3.69 and a beta of 1.66. Kennametal Inc. has a 12-month low of $20.50 and a 12-month high of $32.18. The company has a 50 day moving average of $23.25 and a 200 day moving average of $25.26. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47.

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Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. On average, sell-side analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 annualized dividend and a yield of 3.69%. Kennametal's dividend payout ratio is presently 65.57%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley decreased their price target on Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. 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 lowered their price objective on shares of Kennametal from $30.00 to $27.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. StockNews.com raised Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, January 27th. Finally, Jefferies Financial Group lowered Kennametal from a "buy" rating to a "hold" rating and reduced their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $27.00.

Insider Buying and Selling at Kennametal

In other Kennametal news, CEO Sanjay Chowbey acquired 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is owned by corporate insiders.

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.