Pacer Advisors Inc. Takes Position in Kennametal Inc. (NYSE:KMT)

Pacer Advisors Inc. purchased a new position in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,464,925 shares of the industrial products company's stock, valued at approximately $59,207,000. Pacer Advisors Inc. owned approximately 3.17% of Kennametal at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Kennametal by 33.5% during the 3rd quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company's stock worth $162,105,000 after acquiring an additional 1,567,867 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Kennametal by 35.1% in the 2nd 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. Geode Capital Management LLC boosted its stake in shares of Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company's stock valued at $47,096,000 after purchasing an additional 17,265 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Kennametal by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,423,495 shares of the industrial products company's stock worth $36,911,000 after buying an additional 67,392 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in Kennametal during the third quarter worth $10,295,000.

Kennametal Stock Performance

Shares of NYSE KMT traded down $0.28 during midday trading on Friday, reaching $23.95. The company had a trading volume of 582,161 shares, compared to its average volume of 812,909. Kennametal Inc. has a 1 year low of $22.50 and a 1 year high of $32.18. The business's 50-day simple moving average is $25.53 and its 200 day simple moving average is $25.67. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.86 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.32 and a beta of 1.67.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during 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 was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, analysts forecast that Kennametal Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on KMT shares. 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. Morgan Stanley increased their price target on shares of Kennametal from $24.50 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Bank of America downgraded shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price objective on the stock. in a research report on Friday, October 18th. Barclays decreased their target price on shares of Kennametal from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. Finally, Loop Capital upped their price target on Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Kennametal currently has an average rating of "Hold" and a consensus price target of $27.67.

Insider Buying and Selling

In related news, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the transaction, the vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the sale, the vice president now directly owns 1,642 shares in the company, valued at $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by corporate insiders.

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.