56,200 Shares in Kennametal Inc. $KMT Acquired by Versor Investments LP

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Curat Global LLC purchased a new stake in shares of Kennametal in the 1st quarter worth about $35,000. Parallel Advisors LLC lifted its holdings in Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 1,015 shares in the last quarter. US Bancorp DE lifted its holdings in Kennametal by 93.4% in the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 1,036 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Kennametal in the 1st quarter valued at about $52,000. Finally, Sterling Capital Management LLC lifted its holdings in Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock valued at $59,000 after purchasing an additional 2,181 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KMT. JPMorgan Chase & Co. reduced their target price 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. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Morgan Stanley upped their target price on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Barclays upped their target price on shares of Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Zacks Research upgraded shares of Kennametal to a "strong sell" rating in a report on Monday, August 11th. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $24.00.

Kennametal Trading Up 3.8%

Shares of NYSE KMT traded up $0.79 on Friday, reaching $21.60. 1,056,808 shares of the company traded hands, compared to its average volume of 1,537,871. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a 50 day moving average of $23.15 and a 200 day moving average of $21.77. The company has a current ratio of 2.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $1.64 billion, a PE ratio of 18.00, a P/E/G ratio of 3.66 and a beta of 1.44.

Kennametal (NYSE:KMT - Get Free Report) last posted 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). 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 analyst estimates of $527.52 million. During the same period in the prior year, the company earned $0.49 EPS. The company's revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Kennametal's dividend payout ratio is 66.67%.

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.