Sciencast Management LP Invests $400,000 in Kennametal Inc. (NYSE:KMT)

Sciencast Management LP acquired a new stake in Kennametal Inc. (NYSE:KMT) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 14,946 shares of the industrial products company’s stock, valued at approximately $400,000.

Other hedge funds have also added to or reduced their stakes in the company. Profund Advisors LLC lifted its holdings in Kennametal by 4.9% during the 4th quarter. Profund Advisors LLC now owns 8,377 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 395 shares during the last quarter. Moody Aldrich Partners LLC increased its position in Kennametal by 0.4% during the 1st quarter. Moody Aldrich Partners LLC now owns 119,631 shares of the industrial products company’s stock worth $2,228,000 after buying an additional 445 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Kennametal by 4.6% during the first quarter. State of Alaska Department of Revenue now owns 14,249 shares of the industrial products company’s stock worth $265,000 after buying an additional 628 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Kennametal by 3.5% during the second quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the industrial products company’s stock worth $594,000 after buying an additional 700 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Kennametal by 0.5% in the first quarter. Wells Fargo & Company MN now owns 130,464 shares of the industrial products company’s stock valued at $2,429,000 after acquiring an additional 712 shares during the period. 96.24% of the stock is owned by institutional investors and hedge funds.

In other news, VP Michelle R. Keating sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $24.24, for a total value of $218,160.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence W. Stranghoener sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $30.06, for a total transaction of $210,420.00. Following the completion of the sale, the director now directly owns 26,108 shares in the company, valued at $784,806.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,750 shares of company stock valued at $730,280. Corporate insiders own 1.48% of the company’s stock.

Shares of KMT opened at $26.96 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 2.52. Kennametal Inc. has a 52 week low of $14.45 and a 52 week high of $38.73. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 4.58 and a beta of 2.38. The stock has a fifty day moving average of $27.68 and a 200-day moving average of $26.67.

Kennametal (NYSE:KMT) last posted its earnings results on Monday, May 4th. The industrial products company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.32 by $0.14. The firm had revenue of $483.10 million during the quarter, compared to the consensus estimate of $503.23 million. Kennametal had a return on equity of 10.16% and a net margin of 3.10%. The business’s quarterly revenue was down 19.1% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. As a group, equities analysts forecast that Kennametal Inc. will post 0.91 EPS for the current year.

Several brokerages have weighed in on KMT. BMO Capital Markets lifted their price objective on shares of Kennametal from $18.00 to $29.00 in a research note on Wednesday, June 10th. Wells Fargo & Co raised their price objective on Kennametal from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. KeyCorp raised their price target on Kennametal from $30.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Morgan Stanley initiated coverage on shares of Kennametal in a research note on Friday, June 26th. They set an “equal weight” rating and a $33.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Kennametal from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a research report on Monday, June 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Kennametal currently has a consensus rating of “Hold” and a consensus target price of $32.00.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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