Barrow Hanley Mewhinney & Strauss LLC Sells 83,730 Shares of Kennametal Inc. (NYSE:KMT)

Barrow Hanley Mewhinney & Strauss LLC reduced its position in shares of Kennametal Inc. (NYSE:KMT) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,950,197 shares of the industrial products company’s stock after selling 83,730 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Kennametal were worth $46,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its stake in Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock valued at $11,270,000 after purchasing an additional 115,718 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Kennametal in the fourth quarter worth $274,000. Norges Bank bought a new position in Kennametal during the fourth quarter worth $5,543,000. JPMorgan Chase & Co. increased its position in Kennametal by 29.4% during the fourth quarter. JPMorgan Chase & Co. now owns 313,785 shares of the industrial products company’s stock worth $7,537,000 after acquiring an additional 71,346 shares during the period. Finally, WINTON GROUP Ltd boosted its holdings in Kennametal by 196.3% in the 4th quarter. WINTON GROUP Ltd now owns 43,421 shares of the industrial products company’s stock valued at $1,043,000 after purchasing an additional 28,768 shares during the period.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares of the company’s stock, valued at $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is currently owned by corporate insiders.

Kennametal Stock Down 1.7 %

Shares of KMT opened at $21.62 on Monday. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $22.46 and a two-hundred day moving average price of $24.85. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 3.69 and a beta of 1.69. Kennametal Inc. has a 12 month low of $20.50 and a 12 month high of $32.18.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. Equities analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal’s payout ratio is 65.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KMT shares. Barclays dropped their price objective on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $32.00 in a report on Friday, December 6th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Finally, Morgan Stanley cut their target price on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Kennametal has a consensus rating of “Hold” and an average target price of $26.40.

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.