Heartland Advisors Inc. Sells 144,757 Shares of Kennametal Inc. (NYSE:KMT)

Heartland Advisors Inc. lowered its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 48.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,062 shares of the industrial products company's stock after selling 144,757 shares during the period. Heartland Advisors Inc. owned about 0.19% of Kennametal worth $3,629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KMT. GAMMA Investing LLC grew its position in Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock worth $35,000 after buying an additional 459 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Kennametal by 1.8% in the 4th quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock worth $831,000 after acquiring an additional 609 shares during the last quarter. Inspire Investing LLC raised its position in shares of Kennametal by 3.8% during the fourth quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock worth $445,000 after purchasing an additional 672 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 716 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of 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 buying an additional 1,122 shares during the period.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Kennametal from a "buy" rating to a "hold" rating and cut their target price for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Morgan Stanley dropped their price target on Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 12th. Barclays decreased their price objective on Kennametal from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, StockNews.com downgraded Kennametal from a "buy" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.40.

Kennametal Stock Up 1.5 %

NYSE KMT traded up $0.32 during trading on Wednesday, reaching $21.73. The company's stock had a trading volume of 155,320 shares, compared to its average volume of 817,191. The business has a 50-day moving average price of $22.34 and a 200-day moving average price of $24.79. Kennametal Inc. has a 1-year low of $20.50 and a 1-year high of $32.18. The stock has a market capitalization of $1.68 billion, a PE ratio of 17.81, a PEG ratio of 3.69 and a beta of 1.55. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47.

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

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a $0.20 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 annualized dividend and a yield of 3.68%. Kennametal's dividend payout ratio is 65.57%.

Insider Transactions at Kennametal

In other news, CEO Sanjay Chowbey bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares of the company's stock, valued at $1,687,691.25. This trade represents a 14.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.41% of the company's stock.

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.