Capital Fund Management S.A. Purchases Shares of 24,276 Kennametal Inc. $KMT

Key Points

• Capital Fund Management S.A. has acquired 24,276 shares of Kennametal Inc. (NYSE: KMT), valued at approximately $517,000, indicating growing institutional interest in the company.
• Kennametal recently reported a Q2 EPS of $0.34, falling short of analysts’ expectations of $0.40, with revenues also declining by 4.9% year-over-year.
• The company announced a quarterly dividend of $0.20 per share, representing an annual yield of 3.7% and indicating a stable return for shareholders.

Capital Fund Management S.A. acquired a new stake in Kennametal Inc. (NYSE:KMT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,276 shares of the industrial products company's stock, valued at approximately $517,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMT. Mackenzie Financial Corp raised its position in Kennametal by 557.1% in the first quarter. Mackenzie Financial Corp now owns 77,877 shares of the industrial products company's stock valued at $1,659,000 after purchasing an additional 66,025 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Kennametal by 17.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company's stock worth $282,000 after purchasing an additional 2,000 shares during the period. GAMMA Investing LLC grew its holdings in shares of Kennametal by 699.1% during the 1st quarter. GAMMA Investing LLC now owns 11,651 shares of the industrial products company's stock worth $248,000 after purchasing an additional 10,193 shares during the period. Entropy Technologies LP purchased a new position in shares of Kennametal during the 1st quarter worth $339,000. Finally, Nuveen LLC purchased a new position in shares of Kennametal during the 1st quarter worth $3,949,000.

Kennametal Trading Down 1.2%

Shares of KMT stock traded down $0.26 on Monday, hitting $21.42. The stock had a trading volume of 755,866 shares, compared to its average volume of 1,534,728. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19. The firm has a market capitalization of $1.63 billion, a P/E ratio of 17.85, a P/E/G ratio of 3.77 and a beta of 1.44. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The company's 50 day moving average price is $23.09 and its 200-day moving average price is $21.74.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). The firm had revenue of $516.45 million during 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%. Kennametal's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. Analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.20 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.80 dividend on an annualized basis and a yield of 3.7%. Kennametal's dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KMT. UBS Group upgraded Kennametal from a "sell" rating to a "neutral" rating and increased their price target for the stock from $19.00 to $21.00 in a report on Friday, August 15th. Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Barclays increased their price target on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. lowered their price target on Kennametal from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Finally, Zacks Research upgraded Kennametal to a "strong sell" rating in a report on Monday, August 11th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Kennametal presently has a consensus rating of "Reduce" and a consensus target price 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.