Tools that work well for parting are .060" to .100" wide with a 20 to 30 degree front rake and no top rake. A small 3/64 radius is ground into the top of the tool. Starting on the cutting edge, some side clearance is helpful. Three to five degrees is all that is usually needed.
The proper tool, feed, and speed allow the chip to exit the cut with little resistance and heat build up. Parting yields a good surface finish and is a useful variation for facing certain urethane parts.
Typical parting tool.
Programmable gasket cutter used to make washers from tube stock.