Victory Capital Management Inc. Has $84.06 Million Stock Position in Kennametal Inc. (NYSE:KMT)

Victory Capital Management Inc. lessened its position in shares of Kennametal Inc. (NYSE:KMT) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,259,322 shares of the industrial products company’s stock after selling 15,051 shares during the quarter. Victory Capital Management Inc. owned approximately 4.09% of Kennametal worth $84,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of KMT. Russell Investments Group Ltd. boosted its position in shares of Kennametal by 16.9% during the 4th quarter. Russell Investments Group Ltd. now owns 48,255 shares of the industrial products company’s stock valued at $1,245,000 after acquiring an additional 6,962 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Kennametal by 12.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 107,913 shares of the industrial products company’s stock valued at $2,783,000 after purchasing an additional 11,772 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Kennametal in the 4th quarter valued at approximately $48,000. Duality Advisers LP acquired a new position in shares of Kennametal in the 4th quarter worth approximately $298,000. Finally, CWM LLC lifted its position in shares of Kennametal by 191.1% during the 4th quarter. CWM LLC now owns 1,767 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,160 shares during the period.

Kennametal Stock Performance

Kennametal stock opened at $24.54 on Friday. The company has a market cap of $1.95 billion, a PE ratio of 16.36, a PEG ratio of 3.24 and a beta of 1.76. The company has a current ratio of 2.44, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a 1 year low of $22.08 and a 1 year high of $30.60. The company’s 50-day moving average is $24.37 and its two-hundred day moving average is $24.32.

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

Kennametal declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 10.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $25.55, for a total value of $25,550.00. Following the transaction, the vice president now owns 1,343 shares of the company’s stock, valued at $34,313.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on KMT shares. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Thursday, February 8th. Barclays decreased their price objective on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 2nd. Finally, Morgan Stanley started coverage on Kennametal in a report on Monday, January 8th. They issued an “equal weight” rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.58.

About Kennametal

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.