Gabelli Funds LLC Lowers Holdings in Kennametal Inc. (KMT)

Gabelli Funds LLC lessened its holdings in Kennametal Inc. (NYSE:KMT) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 269,000 shares of the industrial products company’s stock after selling 31,000 shares during the quarter. Gabelli Funds LLC’s holdings in Kennametal were worth $13,022,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KMT. Fortaleza Asset Management Inc. bought a new position in shares of Kennametal in the 3rd quarter valued at about $115,000. Hartford Investment Management Co. bought a new position in shares of Kennametal in the 3rd quarter valued at about $202,000. World Asset Management Inc bought a new position in shares of Kennametal in the 3rd quarter valued at about $207,000. Trexquant Investment LP bought a new position in shares of Kennametal in the 3rd quarter valued at about $207,000. Finally, Koch Industries Inc. bought a new position in shares of Kennametal in the 2nd quarter valued at about $211,000. 98.11% of the stock is currently owned by institutional investors.

Kennametal Inc. (KMT) opened at $42.60 on Friday. Kennametal Inc. has a one year low of $32.23 and a one year high of $52.52. The firm has a market cap of $3,598.20, a P/E ratio of 19.78, a P/E/G ratio of 2.05 and a beta of 1.95. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.52 and a current ratio of 2.77.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The firm had revenue of $571.00 million for the quarter, compared to the consensus estimate of $541.78 million. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. analysts forecast that Kennametal Inc. will post 2.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, February 12th. Kennametal’s payout ratio is 45.45%.

In other Kennametal news, VP Judith L. Bacchus sold 18,125 shares of Kennametal stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $851,875.00. Following the transaction, the vice president now owns 38,528 shares of the company’s stock, valued at $1,810,816. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy R. Mclevish sold 20,000 shares of Kennametal stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $48.00, for a total transaction of $960,000.00. Following the completion of the transaction, the director now directly owns 66,904 shares in the company, valued at approximately $3,211,392. The disclosure for this sale can be found here. Insiders have sold a total of 45,125 shares of company stock worth $2,140,875 in the last three months. 2.00% of the stock is owned by insiders.

Several brokerages have recently issued reports on KMT. Bank of America raised their target price on shares of Kennametal from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. ValuEngine lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. TheStreet raised shares of Kennametal from a “c+” rating to a “b” rating in a research note on Thursday, November 2nd. Credit Suisse Group raised their target price on shares of Kennametal from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Finally, BMO Capital Markets raised their target price on shares of Kennametal from $45.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $50.25.

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Kennametal Profile

Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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