Rhumbline Advisers Grows Stock Holdings in Kennametal Inc. (NYSE:KMT)

Rhumbline Advisers grew its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 265,241 shares of the industrial products company's stock after acquiring an additional 14,936 shares during the period. Rhumbline Advisers owned about 0.34% of Kennametal worth $6,371,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KMT. Pacer Advisors Inc. purchased a new position in Kennametal during the 4th quarter valued at $59,207,000. Wellington Management Group LLP boosted its stake in shares of 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 valued at $162,105,000 after purchasing an additional 1,567,867 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Kennametal during the third quarter valued at about $10,295,000. Hotchkis & Wiley Capital Management LLC raised its stake in Kennametal by 141.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 258,910 shares of the industrial products company's stock worth $6,714,000 after buying an additional 151,480 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Kennametal by 1,235.5% in the third quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company's stock worth $3,284,000 after buying an additional 117,162 shares during the period.

Kennametal Stock Up 0.8 %

Kennametal stock traded up $0.19 during mid-day trading on Friday, hitting $22.11. The company had a trading volume of 1,340,857 shares, compared to its average volume of 1,025,078. Kennametal Inc. has a 12 month low of $20.50 and a 12 month high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock's 50 day moving average price is $23.44 and its two-hundred day moving average price is $25.33. The company has a market capitalization of $1.71 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 3.69 and a beta of 1.66.

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Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.20 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 3.62%. Kennametal's payout ratio is currently 65.57%.

Insider Activity at Kennametal

In other news, VP Franklin Cardenas sold 20,470 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the transaction, the vice president now owns 39,581 shares in the company, valued at $1,117,767.44. The trade was a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Chowbey acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,595 shares of the company's stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KMT. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Jefferies Financial Group cut 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 note on Friday, December 6th. Loop Capital increased their price objective on Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a report on Tuesday, November 19th. Morgan Stanley dropped their target price on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. Finally, Barclays decreased their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Kennametal has a consensus rating of "Hold" and an average target price of $27.00.

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.