Aigen Investment Management LP Acquires Shares of 15,025 Kennametal Inc. (NYSE:KMT)

Key Points

• Aigen Investment Management LP acquired 15,025 shares of Kennametal Inc. (NYSE: KMT) in Q1, valued at approximately $320,000, as per their recent SEC filing.
• Kennametal reported $0.34 earnings per share for the last quarter, missing expectations and showing a 4.9% decline in revenue compared to the same period last year.
• The company announced a quarterly dividend of $0.20 per share, representing an annual yield of 3.7%, with a payout ratio of 66.67%.

Aigen Investment Management LP acquired a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,025 shares of the industrial products company's stock, valued at approximately $320,000.

Several other hedge funds have also recently made changes to their positions in KMT. LPL Financial LLC raised its holdings in shares of Kennametal by 29.3% during the fourth quarter. LPL Financial LLC now owns 17,566 shares of the industrial products company's stock valued at $422,000 after purchasing an additional 3,978 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Kennametal by 29.4% during the fourth quarter. JPMorgan Chase & Co. now owns 313,785 shares of the industrial products company's stock valued at $7,537,000 after purchasing an additional 71,346 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Kennametal by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 94,154 shares of the industrial products company's stock valued at $2,262,000 after purchasing an additional 7,400 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Kennametal by 14.5% during the fourth quarter. Wells Fargo & Company MN now owns 58,316 shares of the industrial products company's stock valued at $1,401,000 after purchasing an additional 7,377 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Kennametal by 13.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 17,989 shares of the industrial products company's stock valued at $432,000 after purchasing an additional 2,130 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KMT. Barclays boosted their target price on shares of Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Morgan Stanley boosted their target price 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. UBS Group upgraded shares of Kennametal from a "sell" rating to a "neutral" rating and boosted their target price for the company from $19.00 to $21.00 in a research report on Friday. Finally, JPMorgan Chase & Co. cut their target price on shares of Kennametal from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kennametal has an average rating of "Hold" and an average target price of $24.00.

Kennametal Price Performance

Shares of KMT traded down $0.13 during mid-day trading on Friday, reaching $21.07. The stock had a trading volume of 1,494,181 shares, compared to its average volume of 1,400,679. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 3.50 and a beta of 1.44. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The business has a fifty day moving average of $23.27 and a 200 day moving average of $21.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.19 and a current ratio of 2.46.

Kennametal (NYSE:KMT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). The company had revenue of $516.45 million for the quarter, compared to analysts' expectations of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The business's revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. Equities analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, August 12th. Kennametal's dividend payout ratio (DPR) is presently 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.