Kennametal Inc. (NYSE:KMT) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its position in shares of Kennametal Inc. (NYSE:KMT) by 19.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,402 shares of the industrial products company’s stock after purchasing an additional 3,627 shares during the period. Sanctuary Advisors LLC’s holdings in Kennametal were worth $581,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KMT. Wellington Management Group LLP raised its holdings in Kennametal by 33.5% in 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 acquiring an additional 1,567,867 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in Kennametal by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock worth $117,175,000 after buying an additional 67,327 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Kennametal by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock valued at $110,248,000 after buying an additional 100,905 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Kennametal by 1.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock worth $77,640,000 after acquiring an additional 50,622 shares during the period. Finally, Brandes Investment Partners LP grew its holdings in Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after purchasing an additional 606,477 shares during the period.

Insider Activity

In other news, VP Franklin Cardenas sold 20,470 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the sale, the vice president now directly owns 39,581 shares of the company’s stock, valued at $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John Wayne Witt sold 1,765 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the sale, the vice president now directly owns 1,642 shares of the company’s stock, valued at $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

Kennametal Stock Up 0.4 %

NYSE:KMT opened at $24.54 on Thursday. The stock has a 50-day simple moving average of $27.15 and a 200 day simple moving average of $25.59. Kennametal Inc. has a one year low of $22.50 and a one year high of $32.18. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 2.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. Kennametal’s quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts predict that Kennametal Inc. will post 1.44 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.26%. Kennametal’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KMT. Morgan Stanley boosted their price objective on shares of Kennametal from $24.50 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Loop Capital boosted their target price on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $32.00 in a report on Friday, December 6th. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.83.

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.