Vanguard Personalized Indexing Management LLC Invests $205,000 in Kennametal Inc. $KMT

Vanguard Personalized Indexing Management LLC bought a new position in Kennametal Inc. (NYSE:KMT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,928 shares of the industrial products company’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in Kennametal by 6.0% during the first quarter. Victory Capital Management Inc. now owns 3,218,394 shares of the industrial products company’s stock worth $68,552,000 after buying an additional 181,035 shares in the last quarter. American Century Companies Inc. boosted its stake in Kennametal by 9.2% during the first quarter. American Century Companies Inc. now owns 2,778,368 shares of the industrial products company’s stock worth $59,179,000 after buying an additional 234,395 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kennametal by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,529,095 shares of the industrial products company’s stock worth $32,570,000 after buying an additional 49,496 shares in the last quarter. Northern Trust Corp boosted its stake in Kennametal by 8.4% during the first quarter. Northern Trust Corp now owns 1,077,284 shares of the industrial products company’s stock worth $22,946,000 after buying an additional 83,568 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in Kennametal during the first quarter worth $11,801,000.

Wall Street Analyst Weigh In

KMT has been the topic of a number of recent research reports. Zacks Research upgraded shares of Kennametal from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. JPMorgan Chase & Co. lifted their price objective on Kennametal from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, October 14th. UBS Group raised Kennametal from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $19.00 to $21.00 in a report on Friday, August 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kennametal in a report on Saturday. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Kennametal currently has an average rating of “Reduce” and an average price target of $24.00.

Kennametal Stock Performance

Kennametal stock opened at $22.73 on Friday. The stock has a 50-day simple moving average of $21.42 and a 200 day simple moving average of $21.75. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45. 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 $1.73 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 3.81 and a beta of 1.46.

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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, August 12th. Kennametal’s payout ratio is currently 66.67%.

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.