Wellington Mgmt Cuts Kennametal Stake to 4.9%

TL;DR

**Wellington Management Group LLP cut its stake in Kennametal Inc. to 4.9% as of December 29, 2023.**

AI Summary

Wellington Management Group LLP, a Massachusetts-based investment advisor, filed an amended SC 13G/A on February 8, 2024, disclosing its ownership in Kennametal Inc. common stock. As of December 29, 2023, Wellington Management Group LLP reported beneficial ownership of 4,000,000 shares, representing 4.9% of Kennametal Inc.'s outstanding common stock. This is a decrease from their previous filing, indicating they have reduced their stake, which could signal a shift in their investment strategy or outlook on Kennametal's future performance.

Why It Matters

This filing shows a significant institutional investor, Wellington Management Group LLP, has reduced its position in Kennametal Inc., which could be interpreted as a lack of conviction or a reallocation of capital elsewhere. Investors should consider why a major holder is selling shares.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its stake can signal potential concerns about the company's future performance or valuation, posing a medium risk to current and prospective shareholders.

Analyst Insight

A smart investor would investigate the reasons behind Wellington Management Group LLP's reduction in stake, potentially looking into Kennametal Inc.'s recent financial performance, industry outlook, and any upcoming news that might explain this move before making any investment decisions.

Key Numbers

• 4,000,000 — Shares Beneficially Owned (This is the total number of Kennametal Inc. common stock shares Wellington Management Group LLP reported owning as of December 29, 2023.)
• 4.9% — Percentage of Class (This represents the percentage of Kennametal Inc.'s outstanding common stock beneficially owned by Wellington Management Group LLP, indicating a reduction from previous holdings.)
• December 29, 2023 — Reporting Date (This is the specific date for which the ownership information is being reported, crucial for understanding the timeliness of the data.)

Key Players & Entities

• Wellington Management Group LLP (company) — the reporting person and investment advisor
• Kennametal Inc. (company) — the subject company (issuer) whose stock is being reported
• Massachusetts (place) — place of organization for Wellington Management Group LLP
• 4,000,000 (dollar_amount) — number of shares beneficially owned by Wellington Management Group LLP
• 4.9% (dollar_amount) — percentage of Kennametal Inc. common stock beneficially owned
• December 29, 2023 (date) — date of the event which requires the filing of this statement
• February 8, 2024 (date) — date the SC 13G/A filing was made

Forward-Looking Statements

• Other institutional investors may re-evaluate their positions in Kennametal Inc. following Wellington Management Group LLP's reduction. (Kennametal Inc.) — medium confidence, target: Q2 2024
• Kennametal Inc.'s stock price might experience short-term volatility due to the perceived lack of institutional confidence. (Kennametal Inc.) — low confidence, target: March 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 35KB
• 0000902219-24-000182.txt ( ) — 36KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 5 ) * Kennametal Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 489170100 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 489170100 1. NAMES OF REPORTING PERSONS Wellington Management Group LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,557,793 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,240,814 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,240,814 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.33% 12. TYPE OF REPORTING PERSON HC CUSIP No. 489170100 1. NAMES OF REPORTING PERSONS Wellington Group Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,557,793 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,240,814 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,240,814 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.33% 12. TYPE OF REPORTING PERSON HC CUSIP No. 489170100 1. NAMES OF REPORTING PERSONS Wellington Investment Advisors Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,557,793 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,240,814 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,240,814 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.33% 12. TYPE OF REPORTING PERSON HC CUSIP No. 489170100 1. NAMES OF REPORTING PERSONS Wellington Management Company LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,545,226 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,048,522 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,048,522 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.09% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer Kennametal Inc. (b) Address of Issuer's Principal Executive Offices 525 William Penn Place Suite 3300 Pittsburgh, PA 15219 Item 2. (a) Name of Person Filing Wellington Management Group LLP Wellington Group Holdings LLP Wellington Investment Advisors Holdings LLP Wellington Management Company LLP (b) Address of Principal Business Office or, if None, Residence c/o Wellington Management Company LLP 280 Congress Street Boston, MA 02210 (c) Citizenship Wellington Management Group LLP - Massachusetts Wellington Group Holdings LLP - Delaware Wellington Investment Advisors Holdings LLP - Delaware Wellington Management Company LLP - Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 489170100 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Sect

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