Atria Investments Inc Has $667,000 Stock Holdings in Kennametal Inc. (NYSE:KMT)

Atria Investments Inc cut its holdings in shares of Kennametal Inc. (NYSE:KMT) by 10.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,708 shares of the industrial products company’s stock after selling 2,978 shares during the quarter. Atria Investments Inc’s holdings in Kennametal were worth $667,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new position in shares of Kennametal during the first quarter worth $534,000. Azarias Capital Management L.P. lifted its holdings in shares of Kennametal by 34.9% in the 2nd quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company’s stock worth $6,106,000 after purchasing an additional 67,139 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Kennametal by 1.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock valued at $48,292,000 after buying an additional 20,634 shares in the last quarter. Brandes Investment Partners LP lifted its position in Kennametal by 35.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after acquiring an additional 606,477 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Kennametal in the second quarter valued at approximately $1,202,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KMT shares. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Barclays boosted their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. 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. Finally, Loop Capital increased their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, Kennametal currently has an average rating of “Hold” and an average price target of $25.00.

Kennametal Stock Down 0.8 %

KMT opened at $27.97 on Wednesday. The business’s fifty day simple moving average is $26.26 and its 200 day simple moving average is $25.28. 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 market cap of $2.17 billion, a PE ratio of 21.85, a P/E/G ratio of 2.39 and a beta of 1.64.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, research analysts expect that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal’s dividend payout ratio is 62.50%.

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.