Vanguard Trims Kennametal Stake to 8.9% as of Dec 29, 2023

TL;DR

**Vanguard cut its Kennametal stake to 8.9%, a minor bearish signal.**

AI Summary

The Vanguard Group filed an amended SC 13G/A for Kennametal Inc. on February 13, 2024, indicating their beneficial ownership of 7,043,905 shares of Common Stock as of December 29, 2023. This represents an 8.9% stake in Kennametal, a slight decrease from their previous filing. This matters to investors because Vanguard is a major institutional holder, and changes in their position can signal shifts in their confidence in Kennametal's future performance.

Why It Matters

This filing shows that a major institutional investor, The Vanguard Group, has slightly reduced its ownership in Kennametal Inc., which could be interpreted as a minor decrease in their conviction for the stock.

Risk Assessment

Risk Level: low — The change in ownership is a minor adjustment by a large institutional investor and does not indicate a significant shift in the company's fundamentals or immediate risk.

Analyst Insight

Investors should note Vanguard's slight reduction in stake, but recognize it's a minor adjustment by a passive investor. This doesn't signal a major shift, but warrants monitoring future filings for larger changes in institutional ownership.

Key Numbers

• 7,043,905 — Shares Beneficially Owned (The total number of Kennametal Inc. Common Stock shares The Vanguard Group beneficially owned as of December 29, 2023.)
• 8.9% — Percentage of Class (The percentage of Kennametal Inc.'s Common Stock represented by The Vanguard Group's beneficial ownership.)
• 0 — Sole Voting Power (The number of shares over which The Vanguard Group has sole voting power, indicating they primarily hold shares for passive investment.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Kennametal Inc. (company) — subject company, manufacturer of machine tools
• 7,043,905 (dollar_amount) — number of shares beneficially owned by Vanguard
• 8.9% (dollar_amount) — percentage of Kennametal's common stock owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, but passive, stake in Kennametal Inc. (The Vanguard Group) — high confidence, target: December 29, 2024

FAQ

Filing Documents

• tv01272-kennametalinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021278.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Kennametal Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 525 William Penn Place, Suite 330 Pittsburgh, PA 15219-2706

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 489170100

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR