Amalgamated Bank Reduces Stock Holdings in Kennametal Inc. (NYSE:KMT)

Amalgamated Bank lessened its holdings in shares of Kennametal Inc. (NYSE:KMT) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,974 shares of the industrial products company’s stock after selling 1,084 shares during the period. Amalgamated Bank’s holdings in Kennametal were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. lifted its position in shares of Kennametal by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock valued at $117,175,000 after buying an additional 67,327 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Kennametal by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock valued at $110,248,000 after purchasing an additional 100,905 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Kennametal by 1.6% in the second quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock valued at $77,640,000 after purchasing an additional 50,622 shares during the period. Brandes Investment Partners LP increased its stake in shares of Kennametal by 35.1% during the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock worth $54,798,000 after purchasing an additional 606,477 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Kennametal by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock worth $48,292,000 after purchasing an additional 20,634 shares during the last quarter.

Kennametal Stock Down 0.8 %

Shares of KMT opened at $28.46 on Friday. Kennametal Inc. has a 52-week low of $22.50 and a 52-week high of $32.18. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $26.11 and a two-hundred day simple moving average of $25.20. The company has a market capitalization of $2.21 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.47 and a beta of 1.64.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million for the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. Kennametal’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. As a group, equities analysts forecast that Kennametal Inc. will post 1.45 EPS for the current year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors 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 dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. Barclays boosted their price target on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Loop Capital lifted their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.60.

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.