Kennametal Inc. $KMT Shares Purchased by American Century Companies Inc.

Key Points

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American Century Companies Inc. increased its holdings in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 9.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,778,368 shares of the industrial products company's stock after purchasing an additional 234,395 shares during the period. American Century Companies Inc. owned 3.64% of Kennametal worth $59,179,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KMT. LPL Financial LLC boosted its stake 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 in the last quarter. Wells Fargo & Company MN lifted its position in 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 acquiring an additional 7,377 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in 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 acquiring an additional 2,130 shares during the last quarter. Bank of Montreal Can lifted its position in Kennametal by 10.5% during the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 898 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Kennametal by 4.1% during the fourth quarter. Invesco Ltd. now owns 426,083 shares of the industrial products company's stock valued at $10,235,000 after acquiring an additional 16,926 shares during the last quarter.

Kennametal Price Performance

Shares of KMT stock traded up $0.79 during mid-day trading on Friday, hitting $21.60. 1,056,808 shares of the stock were exchanged, compared to its average volume of 1,537,871. The firm has a fifty day moving average of $23.15 and a 200 day moving average of $21.77. 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 Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The company has a market cap of $1.64 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 3.66 and a beta of 1.44.

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 (EPS) 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 for the quarter, compared to analysts' expectations of $527.52 million. During the same period in the previous year, the company earned $0.49 earnings per share. The company's revenue was down 4.9% compared to the same quarter last year. Research analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, August 12th. Kennametal's dividend payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays increased 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. Zacks Research raised shares of Kennametal to a "strong sell" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. decreased 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. Morgan Stanley raised their price target 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, UBS Group raised shares of Kennametal from a "sell" rating to a "neutral" rating and raised their price target for the stock from $19.00 to $21.00 in a report on Friday, August 15th. Five research 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 stock has an average rating of "Reduce" and a consensus target price of $24.00.

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.