Wellington Management Group LLP Has $127.53 Million Holdings in Kennametal Inc. (NYSE:KMT)

Wellington Management Group LLP trimmed its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,309,148 shares of the industrial products company's stock after selling 942,484 shares during the quarter. Wellington Management Group LLP owned approximately 6.86% of Kennametal worth $127,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KMT. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kennametal during the third quarter valued at about $30,000. Blue Trust Inc. boosted its position in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after buying an additional 716 shares during the period. GAMMA Investing LLC grew its holdings in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock worth $35,000 after acquiring an additional 459 shares during the last quarter. KBC Group NV grew its holdings in Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after acquiring an additional 1,122 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in Kennametal in the 3rd quarter valued at approximately $230,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KMT. Morgan Stanley reduced their price objective on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Barclays cut their target price on Kennametal from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, StockNews.com cut Kennametal from a "buy" rating to a "hold" rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $26.40.

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Kennametal Trading Up 2.2 %

KMT traded up $0.39 during trading on Tuesday, reaching $18.43. 386,901 shares of the stock traded hands, compared to its average volume of 1,017,840. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The stock's 50-day moving average is $22.00 and its 200 day moving average is $24.62. Kennametal Inc. has a 12 month low of $17.68 and a 12 month high of $32.18. The stock has a market capitalization of $1.43 billion, a PE ratio of 15.11, a P/E/G ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results 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%. Equities analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is 65.57%.

Insider Activity

In related news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction on Tuesday, February 11th. The stock was acquired at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares of the company's stock, valued at $1,687,691.25. This trade represents a 14.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.41% of the stock is currently owned by company insiders.

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.