Tinicum Inc buys $92,460,020 stake in Kennametal (KMT)

Kennametal (KMT) : Tinicum Inc scooped up 396,722 additional shares in Kennametal during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 2,679,224 shares of Kennametal which is valued at $92,460,020.Kennametal makes up approximately 33.68% of Tinicum Inc’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank sold out all of its stake in KMT during the most recent quarter. The investment firm sold 9,816 shares of KMT which is valued $338,750. Checchi Capital Advisers sold out all of its stake in KMT during the most recent quarter. The investment firm sold 473 shares of KMT which is valued $15,950.Great Lakes Advisors reduced its stake in KMT by selling 53,731 shares or 43.5% in the most recent quarter. The Hedge Fund company now holds 69,781 shares of KMT which is valued at $2,053,655. Kennametal makes up approx 0.06% of Great Lakes Advisors’s portfolio.State Treasurer State Of Michigan boosted its stake in KMT in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 32,060 shares of Kennametal which is valued at $890,306. Kennametal makes up approx 0.01% of State Treasurer State Of Michigan’s portfolio. Proficio Capital Partners added KMT to its portfolio by purchasing 39 company shares during the most recent quarter which is valued at $1,150.

Kennametal closed down -0.29 points or -0.86% at $33.28 with 8,86,859 shares getting traded on Monday. Post opening the session at $33.44, the shares hit an intraday low of $33.19 and an intraday high of $33.55 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Kennametal reported $0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $0.14. The company had revenue of $477.00 million for the quarter, compared to analysts expectations of $479.01 million. The company’s revenue was down -14.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on Kennametal. Kennametal was Upgraded by Goldman to ” Buy” on Oct 31, 2016. Seaport Global Securities Downgraded Kennametal on Aug 18, 2016 to ” Neutral”, Price Target of the shares are set at $28.

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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