Axa trimmed its stake in Kennametal Inc. (NYSE:KMT) by 26.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,600 shares of the industrial products company’s stock after selling 4,600 shares during the quarter. Axa’s holdings in Kennametal were worth $235,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. UBS Group AG increased its position in Kennametal by 183.1% during the 4th quarter. UBS Group AG now owns 154,282 shares of the industrial products company’s stock worth $5,691,000 after purchasing an additional 99,791 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Kennametal during the 4th quarter worth about $1,487,000. UBS Asset Management Americas Inc. grew its holdings in shares of Kennametal by 2.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 335,575 shares of the industrial products company’s stock worth $12,379,000 after buying an additional 6,663 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Kennametal by 45.2% in the first quarter. Federated Hermes Inc. now owns 148,979 shares of the industrial products company’s stock valued at $2,774,000 after buying an additional 46,377 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Kennametal by 260,034.3% during the fourth quarter. FMR LLC now owns 743,984 shares of the industrial products company’s stock valued at $27,445,000 after buying an additional 743,698 shares during the period. Institutional investors and hedge funds own 96.00% of the company’s stock.

Shares of NYSE KMT opened at $27.21 on Tuesday. The stock has a fifty day moving average price of $27.15 and a two-hundred day moving average price of $28.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 2.52. The firm has a market cap of $2.26 billion, a P/E ratio of 16.59, a PEG ratio of 5.99 and a beta of 2.38. Kennametal Inc. has a 1 year low of $14.45 and a 1 year high of $38.73.

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

Several research analysts have weighed in on KMT shares. Wells Fargo & Co boosted their price target on Kennametal from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a research report on Monday. BMO Capital Markets upped their price target on Kennametal from $18.00 to $29.00 in a research note on Wednesday, June 10th. KeyCorp raised their target price on Kennametal from $30.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, Morgan Stanley started coverage on Kennametal in a report on Friday. They set an “equal weight” rating and a $33.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $31.78.

In other Kennametal news, Director Lawrence W. Stranghoener sold 7,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $30.06, for a total transaction of $210,420.00. Following the sale, the director now owns 26,108 shares in the company, valued at approximately $784,806.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Judith L. Bacchus sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $27.92, for a total transaction of $279,200.00. Following the sale, the vice president now directly owns 38,157 shares of the company’s stock, valued at $1,065,343.44. The disclosure for this sale can be found here. Insiders have sold a total of 26,750 shares of company stock valued at $730,280 in the last quarter. Insiders own 1.48% of the company’s stock.

Kennametal Profile

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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