Yousif Capital Management LLC Lowers Stake in Kennametal Inc. (NYSE:KMT)

Yousif Capital Management LLC cut its position in shares of Kennametal Inc. (NYSE:KMT) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,874 shares of the industrial products company’s stock after selling 783 shares during the quarter. Yousif Capital Management LLC’s holdings in Kennametal were worth $615,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KMT. American Century Companies Inc. increased its position in shares of Kennametal by 13.8% during the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock worth $61,106,000 after acquiring an additional 308,000 shares during the last quarter. Norges Bank purchased a new position in Kennametal in the fourth quarter valued at about $5,543,000. Arrowstreet Capital Limited Partnership grew its stake in Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company’s stock valued at $11,270,000 after purchasing an additional 115,718 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Kennametal by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock worth $123,319,000 after purchasing an additional 101,159 shares during the last quarter. Finally, Brandes Investment Partners LP increased its stake in shares of Kennametal by 3.1% in the fourth quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock worth $61,819,000 after buying an additional 78,149 shares during the last quarter.

Kennametal Stock Performance

Shares of KMT opened at $21.80 on Friday. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18. The stock has a market capitalization of $1.66 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.99 and a beta of 1.40. The firm’s 50 day moving average is $20.85 and its 200-day moving average is $22.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.26 by $0.21. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. During the same period in the prior year, the business posted $0.30 earnings per share. Kennametal’s revenue was down 5.7% compared to the same quarter last year. Equities research analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.67%. Kennametal’s dividend payout ratio (DPR) is presently 57.55%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Morgan Stanley lifted their price objective on shares of Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Finally, Barclays increased their price target on Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.80.

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.