Heartland Advisors Inc. Has $3.63 Million Stake in Kennametal Inc. (NYSE:KMT)

Heartland Advisors Inc. reduced its stake in Kennametal Inc. (NYSE:KMT) by 48.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,062 shares of the industrial products company’s stock after selling 144,757 shares during the period. Heartland Advisors Inc. owned approximately 0.19% of Kennametal worth $3,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares during the period. AMH Equity Ltd bought a new position in Kennametal in the 4th quarter valued at approximately $1,441,000. Amundi boosted its position in Kennametal by 174.7% in the fourth quarter. Amundi now owns 40,359 shares of the industrial products company’s stock valued at $982,000 after buying an additional 25,666 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock worth $47,096,000 after buying an additional 17,265 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Kennametal by 113.7% during the third quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock worth $4,957,000 after buying an additional 101,711 shares in the last quarter.

Insider Activity

In other Kennametal news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were purchased at an average price 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 in the company, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KMT shares. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Barclays dropped their price objective on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Kennametal presently has a consensus rating of “Hold” and an average target price of $26.40.

Kennametal Stock Performance

Shares of KMT stock opened at $21.62 on Friday. The firm has a 50 day moving average of $22.46 and a 200-day moving average of $24.84. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 52 week low of $20.50 and a 52 week high of $32.18.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share 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, equities analysts forecast that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 3.70%. Kennametal’s dividend payout ratio (DPR) is presently 65.57%.

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.