Aigen Investment Management LP Purchases New Stake in Kennametal Inc. $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 bought a new position in shares of Kennametal Inc. (NYSE:KMT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 15,025 shares of the industrial products company's stock, valued at approximately $320,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Kennametal by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock worth $123,319,000 after acquiring an additional 101,159 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of 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 valued at $68,552,000 after purchasing an additional 181,035 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Kennametal by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,529,095 shares of the industrial products company's stock valued at $32,570,000 after purchasing an additional 49,496 shares in the last quarter. Northern Trust Corp raised its position in Kennametal by 6.9% in the 4th quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company's stock worth $23,869,000 after purchasing an additional 63,770 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Kennametal by 1.4% during the 4th quarter. Voloridge Investment Management LLC now owns 640,162 shares of the industrial products company's stock worth $15,377,000 after buying an additional 8,753 shares in the last quarter.

Analyst Ratings Changes

Several research firms have recently commented on KMT. Wall Street Zen raised Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. UBS Group upgraded Kennametal from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $19.00 to $21.00 in a research report on Friday. Morgan Stanley raised their target price on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Loop Capital reissued a "hold" rating and set a $24.00 price target (up from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. cut their price objective 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $24.00.

Kennametal Stock Performance

Shares of KMT stock traded down $0.45 on Monday, hitting $20.57. The company's stock had a trading volume of 664,290 shares, compared to its average volume of 1,084,282. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a market capitalization of $1.56 billion, a PE ratio of 17.14, a PEG ratio of 3.69 and a beta of 1.44. The stock's 50 day moving average is $23.27 and its 200-day moving average is $21.84. 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 released its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The company had revenue of $516.45 million for the quarter, compared to the consensus estimate of $527.52 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business's revenue was down 4.9% compared to the same quarter last year. Equities research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 12th. This represents a $0.80 annualized dividend and a dividend yield of 3.9%. Kennametal's dividend 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.