Victory Capital Management Inc. Sells 15,051 Shares of Kennametal Inc. (NYSE:KMT)

Victory Capital Management Inc. trimmed its holdings in shares of Kennametal Inc. (NYSE:KMT) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,259,322 shares of the industrial products company’s stock after selling 15,051 shares during the quarter. Victory Capital Management Inc.’s holdings in Kennametal were worth $84,058,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Kennametal by 119.6% in the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 603 shares during the last quarter. CWM LLC boosted its holdings in Kennametal by 191.1% in the fourth quarter. CWM LLC now owns 1,767 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,160 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Kennametal during the 4th quarter valued at approximately $48,000. DekaBank Deutsche Girozentrale bought a new position in Kennametal during the 3rd quarter worth approximately $62,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Kennametal in the 3rd quarter worth approximately $82,000.

Kennametal Price Performance

Shares of KMT opened at $24.54 on Friday. The company has a quick ratio of 1.06, a current ratio of 2.44 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average is $24.37 and its 200 day moving average is $24.32. Kennametal Inc. has a 12-month low of $22.08 and a 12-month high of $30.60. The stock has a market cap of $1.95 billion, a P/E ratio of 16.36, a P/E/G ratio of 3.24 and a beta of 1.76.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $495.30 million during the quarter, compared to analyst estimates of $498.99 million. Kennametal had a return on equity of 9.94% and a net margin of 5.86%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. Sell-side analysts anticipate that Kennametal Inc. will post 1.49 earnings per share for the current fiscal year.

Kennametal declared that its board has initiated a stock repurchase plan on Wednesday, February 7th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KMT shares. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley initiated coverage on Kennametal in a research report on Monday, January 8th. They set an “equal weight” rating and a $24.00 target price on the stock. Barclays lowered their target price on Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. cut their price target on Kennametal from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.58.

Insider Buying and Selling at Kennametal

In other news, VP John Wayne Witt sold 1,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $25.55, for a total value of $25,550.00. Following the completion of the sale, the vice president now owns 1,343 shares in the company, valued at $34,313.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.61% of the company’s stock.

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.