PNC Financial Services Group Inc. Sells 438 Shares of Kennametal Inc. (NYSE:KMT)

PNC Financial Services Group Inc. trimmed its stake in Kennametal Inc. (NYSE:KMTFree Report) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,140 shares of the industrial products company’s stock after selling 438 shares during the period. PNC Financial Services Group Inc.’s holdings in Kennametal were worth $262,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in shares of Kennametal by 119.6% in the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 603 shares in the last quarter. First United Bank & Trust bought a new stake in Kennametal during the fourth quarter worth about $45,000. CWM LLC increased its holdings in shares of Kennametal by 191.1% during the fourth 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 in the last quarter. GAMMA Investing LLC bought a new position in shares of Kennametal in the fourth quarter valued at approximately $48,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Kennametal in the 3rd quarter worth approximately $62,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KMT. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Loop Capital upped their price target on shares of Kennametal from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Kennametal from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. Finally, Barclays boosted their target price on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.17.

Read Our Latest Report on Kennametal

Kennametal Stock Performance

Shares of NYSE:KMT opened at $24.83 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46. Kennametal Inc. has a 1-year low of $22.08 and a 1-year high of $30.60. The stock has a market capitalization of $1.95 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.52 and a beta of 1.72. The business has a 50-day moving average price of $24.80 and a two-hundred day moving average price of $24.70.

Kennametal (NYSE:KMTGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The business had revenue of $515.80 million for the quarter, compared to the consensus estimate of $518.50 million. During the same period last year, the firm earned $0.39 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Equities analysts predict that Kennametal Inc. will post 1.47 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a $0.20 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.22%. Kennametal’s dividend payout ratio is presently 59.26%.

Kennametal Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kennametal (NYSE:KMT)

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