Versor Investments LP Invests $1.20 Million in Kennametal Inc. $KMT

Key Points

• Versor Investments LP acquired 56,200 shares of Kennametal Inc. valued at approximately $1.2 million, representing 0.07% ownership of the company.
• Kennametal recently announced a quarterly dividend of $0.20 per share, yielding 3.8% annually, with an ex-dividend date set for August 12th.
• Despite being rated "Hold," Kennametal's stock showed a 0.6% decline, with analysts forecasting a significant drop in earnings per share for the current fiscal year.

Versor Investments LP purchased a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 56,200 shares of the industrial products company's stock, valued at approximately $1,197,000. Versor Investments LP owned about 0.07% of Kennametal as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Kennametal by 2.0% in 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 period. Victory Capital Management Inc. grew its position in shares of Kennametal by 6.0% in 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. American Century Companies Inc. increased its stake in shares of Kennametal by 9.2% in 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 purchasing an additional 234,395 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Kennametal by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,529,095 shares of the industrial products company's stock worth $32,570,000 after purchasing an additional 49,496 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Kennametal by 6.9% during the 4th quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company's stock valued at $23,869,000 after purchasing an additional 63,770 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays upped 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. Zacks Research upgraded shares of Kennametal to a "strong sell" rating in a research note on Monday, August 11th. Loop Capital restated a "hold" rating and issued a $24.00 price target (up from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Morgan Stanley boosted their price objective on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Kennametal from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Five analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Kennametal presently has an average rating of "Reduce" and a consensus price target of $24.00.

Kennametal Price Performance

Kennametal stock traded down $0.3350 during mid-day trading on Wednesday, hitting $20.7350. 1,014,045 shares of the company were exchanged, compared to its average volume of 1,525,592. The company has a market capitalization of $1.58 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 3.70 and a beta of 1.44. The business has a fifty day moving average of $23.18 and a 200 day moving average of $21.81. Kennametal Inc. has a 1-year low of $17.30 and a 1-year 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.

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). Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The firm had revenue of $516.45 million during the quarter, compared to the consensus estimate of $527.52 million. During the same period in the previous year, the company posted $0.49 EPS. The firm's revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. Kennametal's payout ratio is 66.67%.

About Kennametal

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.