Kennametal Inc. (NYSE:KMT), saw a high level insider increase his holdings with the company. President and Chief Executive Officer Carlos M. Cardoso bought 4,390 shares at an average price of $42.13 per share. Following the completion of this transaction, Cardoso now holds 182,986 shares directly in the company.
Moreover, a $3.32 billion market cap corporation, Kennametal Inc. (NYSE:KMT) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company’s product offering includes a wide selection of standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, as well as advanced, materials, such as cemented tungsten carbide products, super alloys, coatings and investment castings to address customer demands.
In addition, the biggest hedge fund involvement comes from Royce & Associates, the fund run by Chuck Royce. Royce’s fund dropped its activity by 9% last quarter, and still holds 3,909,860 shares worth approximately $173.2 million in Kennametal Inc. (NYSE:KMT)
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.