Envestnet Asset Management Inc. Has $1.22 Million Stock Holdings in Kennametal Inc. (NYSE:KMT)

Envestnet Asset Management Inc. lifted its holdings in shares of Kennametal Inc. (NYSE:KMT) by 219.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 57,481 shares of the industrial products company’s stock after acquiring an additional 39,492 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Kennametal worth $1,224,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Curat Global LLC acquired a new position in Kennametal during the first quarter worth $35,000. Parallel Advisors LLC grew its holdings in shares of Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 1,015 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 1,444 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Kennametal by 801.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 2,181 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Kennametal by 10.5% in the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company’s stock valued at $227,000 after buying an additional 898 shares in the last quarter.

Kennametal Stock Performance

KMT stock opened at $24.35 on Friday. The company has a 50 day moving average price of $23.28 and a 200 day moving average price of $22.05. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10. The stock has a market capitalization of $1.86 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 3.34 and a beta of 1.44.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. The company had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. Analysts forecast that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, August 12th. Kennametal’s dividend payout ratio (DPR) is 57.55%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Loop Capital restated a “hold” rating and set a $24.00 price target (up from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Morgan Stanley raised their price target on Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Finally, Barclays boosted their price objective 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.40.

Kennametal 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.