Victory Capital Management Inc. Decreases Stock Holdings in Kennametal Inc. (NYSE:KMT)

Victory Capital Management Inc. trimmed its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,037,359 shares of the industrial products company's stock after selling 49,564 shares during the period. Victory Capital Management Inc. owned approximately 3.91% of Kennametal worth $72,957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of KMT. Wilmington Savings Fund Society FSB bought a new position in shares of Kennametal in the 3rd quarter worth $30,000. Blue Trust Inc. increased its stake in Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares during the last quarter. GAMMA Investing LLC raised its position in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 459 shares in the last quarter. KBC Group NV lifted its stake in Kennametal by 50.3% during the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Kennametal by 14.4% in the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company's stock worth $97,000 after purchasing an additional 472 shares in the last quarter.

Kennametal Trading Down 1.4 %

NYSE:KMT traded down $0.31 during midday trading on Monday, reaching $22.12. 1,435,299 shares of the stock traded hands, compared to its average volume of 1,029,016. The stock has a market capitalization of $1.71 billion, a P/E ratio of 18.13, a PEG ratio of 3.69 and a beta of 1.69. Kennametal Inc. has a 12 month low of $20.50 and a 12 month high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The company has a fifty day moving average of $23.16 and a 200 day moving average of $25.22.

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Kennametal (NYSE:KMT - Get Free Report) last issued 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%. On average, research analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

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

Insider Buying and Selling

In related news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price 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. This represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KMT has been the topic of a number of research reports. Morgan Stanley decreased their price objective on Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group lowered shares of 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 report on Friday, December 6th. StockNews.com raised shares of Kennametal from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Loop Capital boosted their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a research note on Tuesday, November 19th. Finally, Barclays set a $25.00 price target on shares of Kennametal and gave the company an "equal weight" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kennametal currently has an average rating of "Hold" and an average target price of $26.60.

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.