Vanguard Group Inc. Has $188.06 Million Stock Position in Kennametal Inc. $KMT

Vanguard Group Inc. decreased its stake in Kennametal Inc. (NYSE:KMT) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,828,935 shares of the industrial products company’s stock after selling 197,943 shares during the period. Vanguard Group Inc. owned approximately 11.41% of Kennametal worth $188,056,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Curat Global LLC acquired a new stake in Kennametal during the first quarter worth $35,000. Parallel Advisors LLC boosted its stake in Kennametal by 107.6% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock worth $42,000 after buying an additional 1,015 shares in the last quarter. US Bancorp DE boosted its stake in Kennametal by 93.4% during the first quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,036 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Kennametal during the first quarter worth $52,000. Finally, Sterling Capital Management LLC boosted its stake in Kennametal by 801.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after buying an additional 2,181 shares in the last quarter.

Kennametal Stock Performance

Kennametal stock opened at $21.0350 on Wednesday. The stock has a 50-day simple moving average of $23.22 and a 200 day simple moving average of $21.81. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 3.67 and a beta of 1.44. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The firm had revenue of $516.45 million during the quarter, compared to analyst estimates of $527.52 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.Kennametal’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. On average, research analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, August 12th. Kennametal’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KMT. JPMorgan Chase & Co. decreased their price target on shares of Kennametal from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. Loop Capital reissued a “hold” rating and set a $24.00 price objective (up from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Zacks Research raised Kennametal to a “strong sell” rating in a report on Monday, August 11th. Wall Street Zen raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Barclays lifted their price objective on Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $24.00.

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.