Tinicum Inc buys $40,355,425 stake in Kennametal (KMT)

Kennametal (KMT) : Tinicum Inc scooped up 942,400 additional shares in Kennametal during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,413,500 shares of Kennametal which is valued at $40,355,425.Kennametal makes up approximately 18.15% of Tinicum Inc’s portfolio.

Other Hedge Funds, Including , Arrowstreet Capital Limited Partnership added KMT to its portfolio by purchasing 50,700 company shares during the most recent quarter which is valued at $1,447,485. Kennametal makes up approx 0.01% of Arrowstreet Capital Limited Partnership’s portfolio. Stevens Capital Management Lp added KMT to its portfolio by purchasing 27,227 company shares during the most recent quarter which is valued at $777,331. Kennametal makes up approx 0.03% of Stevens Capital Management Lp’s portfolio.Snow Capital Management Lp boosted its stake in KMT in the latest quarter, The investment management firm added 210,322 additional shares and now holds a total of 290,226 shares of Kennametal which is valued at $8,285,952. Kennametal makes up approx 0.37% of Snow Capital Management Lp’s portfolio.Olstein Capital Management reduced its stake in KMT by selling 215,692 shares or 58.58% in the most recent quarter. The Hedge Fund company now holds 152,508 shares of KMT which is valued at $4,206,171. Kennametal makes up approx 0.54% of Olstein Capital Management’s portfolio.Acadian Asset Management reduced its stake in KMT by selling 4,210 shares or 97.34% in the most recent quarter. The Hedge Fund company now holds 115 shares of KMT which is valued at $2,728.

Kennametal closed down -0.22 points or -0.79% at $27.74 with 9,15,706 shares getting traded on Thursday. Post opening the session at $28, the shares hit an intraday low of $27.4 and an intraday high of $28 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Kennametal reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.43. The company had revenue of $521.20 million for the quarter, compared to analysts expectations of $518.96 million. The company’s revenue was down -18.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on Kennametal. Seaport Global Securities Downgraded Kennametal on Aug 18, 2016 to ” Neutral”, Price Target of the shares are set at $28.Company shares were Reiterated by Barrington Research on Aug 3, 2016 to “Outperform”, Firm has raised the Price Target to $ 31 from a previous price target of $28 .Kennametal was Downgraded by BofA/Merrill to ” Underperform” on Jul 7, 2016.

Kennametal Inc. (Kennametal) is a supplier of tooling engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products application engineering and services backed by material science serving customers across diverse sectors of industrial production transportation earthworks energy infrastructure and aerospace. The Company markets its products under the brands Kennametal and WIDIA. The Company’s product offering includes a selection of standard and customized technologies for metalworking such as metal cutting tools tooling systems and services as well as materials such as cemented tungsten carbide products super alloys coatings and investment castings to address customer demands. It offers these products through a range of channels to meet customer-specified needs.

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