GSA Capital Partners LLP Sells 37,972 Shares of Kennametal Inc. (NYSE:KMT)

GSA Capital Partners LLP reduced its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 43.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,183 shares of the industrial products company's stock after selling 37,972 shares during the period. GSA Capital Partners LLP owned 0.06% of Kennametal worth $1,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KMT. UniSuper Management Pty Ltd purchased a new stake in Kennametal in the first quarter valued at approximately $534,000. Azarias Capital Management L.P. increased its holdings in Kennametal by 34.9% in the second quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company's stock valued at $6,106,000 after buying an additional 67,139 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Kennametal by 1.0% during the 2nd 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 in the last quarter. Headlands Technologies LLC acquired a new stake in Kennametal during the first quarter worth approximately $32,000. Finally, Brandes Investment Partners LP boosted its position in Kennametal by 35.1% during 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 acquiring an additional 606,477 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KMT. Loop Capital lifted their price target on shares of Kennametal from $22.00 to $24.00 and gave the company a "hold" rating in a report on Thursday, August 22nd. StockNews.com downgraded shares of Kennametal from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America downgraded shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 target price for the company. in a research report on Friday, October 18th. Finally, Barclays boosted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $24.60.

Kennametal Stock Down 1.0 %

KMT stock traded down $0.29 during trading hours on Thursday, hitting $29.07. The company's stock had a trading volume of 177,178 shares, compared to its average volume of 716,323. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.26 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. Kennametal Inc. has a 12 month low of $22.50 and a 12 month high of $32.18. The stock has a 50 day moving average price of $25.94 and a two-hundred day moving average price of $25.15.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. During the same period in the prior year, the firm earned $0.41 EPS. The business's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Kennametal Inc. will post 1.47 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal's dividend payout ratio is 62.50%.

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.