Rhumbline Advisers Has $7.46 Million Position in Kennametal Inc. (NYSE:KMT)

Rhumbline Advisers reduced its position in shares of Kennametal Inc. (NYSE:KMT) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 270,604 shares of the industrial products company’s stock after selling 14,166 shares during the quarter. Rhumbline Advisers owned 0.34% of Kennametal worth $7,463,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ariel Investments LLC increased its stake in shares of Kennametal by 8.9% in the first quarter. Ariel Investments LLC now owns 9,707,735 shares of the industrial products company’s stock worth $277,739,000 after acquiring an additional 790,456 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kennametal by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,206,742 shares of the industrial products company’s stock worth $101,215,000 after acquiring an additional 338,486 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Kennametal by 10.1% in the fourth quarter. Victory Capital Management Inc. now owns 3,247,088 shares of the industrial products company’s stock worth $78,125,000 after acquiring an additional 297,345 shares during the last quarter. Norges Bank acquired a new position in shares of Kennametal in the fourth quarter worth $6,066,000. Finally, American Century Companies Inc. increased its stake in shares of Kennametal by 34.8% in the fourth quarter. American Century Companies Inc. now owns 791,288 shares of the industrial products company’s stock worth $19,038,000 after acquiring an additional 204,444 shares during the last quarter.

Kennametal Stock Down 3.3 %

KMT stock opened at $25.72 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.37 and a quick ratio of 1.08. Kennametal Inc. has a 52-week low of $20.21 and a 52-week high of $30.60. The company has a 50-day moving average of $27.83 and a two-hundred day moving average of $27.27. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.94 and a beta of 1.90.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). Kennametal had a net margin of 5.70% and a return on equity of 9.59%. The firm had revenue of $550.20 million for the quarter, compared to the consensus estimate of $567.84 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Kennametal Inc. will post 1.81 EPS for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Monday, August 7th. Kennametal’s payout ratio is presently 55.17%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KMT shares. BMO Capital Markets increased their target price on shares of Kennametal from $25.00 to $27.50 in a research report on Monday, May 15th. Barclays increased their target price on shares of Kennametal from $27.00 to $28.00 in a research report on Monday, July 10th. Finally, StockNews.com started coverage on shares of Kennametal in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Kennametal currently has a consensus rating of “Hold” and a consensus price target of $26.92.

Kennametal Company Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.