Kennametal Inc. $KMT Holdings Raised by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of Kennametal Inc. (NYSE:KMT) by 293.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,153 shares of the industrial products company’s stock after acquiring an additional 1,606 shares during the period. GAMMA Investing LLC’s holdings in Kennametal were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Baron Wealth Management LLC purchased a new stake in shares of Kennametal during the second quarter worth $216,000. Voya Investment Management LLC raised its stake in shares of Kennametal by 15.2% during the 1st quarter. Voya Investment Management LLC now owns 221,153 shares of the industrial products company’s stock worth $4,711,000 after purchasing an additional 29,203 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Kennametal by 39.3% during the 1st quarter. Jane Street Group LLC now owns 229,903 shares of the industrial products company’s stock worth $4,897,000 after purchasing an additional 64,907 shares in the last quarter. Bayforest Capital Ltd bought a new position in Kennametal during the first quarter valued at approximately $64,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Kennametal by 13.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 240,556 shares of the industrial products company’s stock valued at $5,124,000 after acquiring an additional 28,020 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KMT shares. Loop Capital reaffirmed a “hold” rating and set a $24.00 price objective (up previously from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. JPMorgan Chase & Co. cut their price target on shares of Kennametal from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Thursday, August 7th. UBS Group upgraded Kennametal from a “sell” rating to a “neutral” rating and raised their target price for the company from $19.00 to $21.00 in a report on Friday, August 15th. Zacks Research upgraded Kennametal to a “strong sell” rating in a report on Monday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kennametal in a report on Saturday, September 27th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $24.00.

Kennametal Trading Up 2.0%

Shares of KMT opened at $21.89 on Friday. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18. 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 firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 3.84 and a beta of 1.46. The stock’s 50-day moving average price is $21.62 and its 200 day moving average price is $21.61.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The firm had revenue of $516.45 million for the quarter, compared to the consensus estimate of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. As a group, research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Kennametal’s payout ratio is 66.67%.

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.