Kennametal Inc. (NYSE:KMT) Shares Acquired by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC increased its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 141.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 258,910 shares of the industrial products company's stock after buying an additional 151,480 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.33% of Kennametal worth $6,714,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in Kennametal during the 3rd quarter worth approximately $804,000. Azarias Capital Management L.P. raised its position in shares of Kennametal by 34.9% during the 2nd quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company's stock valued at $6,106,000 after acquiring an additional 67,139 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Kennametal by 1.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company's stock worth $48,292,000 after purchasing an additional 20,634 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company's stock worth $54,798,000 after purchasing an additional 606,477 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new stake in Kennametal during the second quarter valued at $1,202,000.

Insider Buying and Selling at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the sale, the vice president now directly owns 1,642 shares in the company, valued at $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the transaction, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.

Kennametal Stock Performance

Shares of KMT traded down $0.62 during mid-day trading on Friday, reaching $27.26. 843,806 shares of the company's stock traded hands, compared to its average volume of 716,381. Kennametal Inc. has a 12 month low of $22.50 and a 12 month high of $32.18. The stock has a market capitalization of $2.12 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.65. The business's 50-day moving average price is $26.99 and its 200-day moving average price is $25.53. 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 - Get Free Report) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm had revenue of $481.90 million for the quarter, compared to the consensus estimate of $485.26 million. During the same quarter in the previous year, the business earned $0.41 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts predict that Kennametal Inc. will post 1.45 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.93%. Kennametal's dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KMT shares. StockNews.com downgraded shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Loop Capital raised their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a report on Tuesday, November 19th. Barclays upped their target price on Kennametal from $24.00 to $25.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Bank of America downgraded Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price target on the stock. in a report on Friday, October 18th. Finally, Jefferies Financial Group downgraded Kennametal from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $40.00 to $32.00 in a research note on Friday. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $26.17.

Kennametal Company 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.