Brandes Investment Partners Reduces $174M in Kennametal Inc. ($KMT)
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Brandes Investment Partners reduced its position in Kennametal Inc. ($KMT) by 48.54% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,265,280 shares of Kennametal Inc. after selling 4,965,772 shares during the quarter. Brandes Investment Partners's holdings in Kennametal Inc. were worth $184.18 million as of its most recent filing.
Kennametal Inc. Stock Up 18.4%
Shares of Kennametal Inc. ($KMT) traded around $34.98 on Saturday, up 18.4% for the day.
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About Kennametal Inc.
Kennametal Inc. engages in development and application of tungsten carbides, ceramics, and hard materials and solutions worldwide. It operates through two segments, Metal Cutting and Infrastructure. The Metal Cutting segment provides milling, hole making, turning, threading, and toolmaking systems used in the manufacture of airframes, aero engines, trucks and automobiles, ships, and various types of industrial equipment under the Kennametal, WIDIA, WIDIA Hanita, and WIDIA GTD brands through its direct sales force, a network of independent and national distributors, integrated supplier channels, and digitally. Its Infrastructure segment produces engineered tungsten carbide and ceramic components, earth-cutting tools, and metallurgical powders, such as compacts, nozzles, frac seats, and custom components used in oil and gas and petrochemical industries; rod blanks and abrasive water jet nozzles for general industries; earth cutting tools and systems used in underground mining, trenching and foundation drilling, and road milling; tungsten carbide powders for the oil and gas, aerospace, and process industries; high temperature critical wear components, tungsten penetrators, and armor solutions for aerospace and defense; and ceramics used by the packaging industry for metallization of films and papers under the Kennametal brand through a direct sales force and distributors. The company was founded in 1938 and is based in Pittsburgh, Pennsylvania.
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