Kennametal Inc. (NYSE:KMT) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC lessened its holdings in Kennametal Inc. (NYSE:KMT) by 43.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,115 shares of the industrial products company’s stock after selling 13,413 shares during the quarter. Easterly Investment Partners LLC’s holdings in Kennametal were worth $444,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP lifted its position in shares of Kennametal by 198.9% in the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after buying an additional 704 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Kennametal in the second quarter valued at approximately $28,000. Headlands Technologies LLC bought a new position in shares of Kennametal during the first quarter valued at approximately $32,000. Quest Partners LLC acquired a new stake in shares of Kennametal during the 2nd quarter worth approximately $44,000. Finally, Signaturefd LLC lifted its holdings in shares of Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,008 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on KMT. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research report on Friday, October 18th. Loop Capital boosted their target price on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Barclays boosted their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.60.

Kennametal Trading Up 0.4 %

Shares of NYSE:KMT opened at $29.48 on Friday. The company has a 50 day moving average of $25.68 and a 200-day moving average of $25.03. The company has a current ratio of 2.52, a quick ratio of 1.17 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.30 billion, a P/E ratio of 23.03, a P/E/G ratio of 3.48 and a beta of 1.64. Kennametal Inc. has a twelve month low of $22.43 and a twelve month high of $32.18.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. As a group, analysts anticipate that Kennametal Inc. will post 1.43 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Tuesday, November 12th. Kennametal’s payout ratio is 62.50%.

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.