Azarias Capital Management L.P. Has $6.35 Million Stock Holdings in Kennametal Inc. $KMT

Key Points

• Azarias Capital Management L.P. increased its stake in Kennametal Inc. by 17.2%, now owning 276,451 shares valued at approximately $6.35 million.
• Wall Street analysts have mixed ratings for Kennametal, with a consensus rating of "Reduce" and an average price target of $24.00.
• Kennametal recently reported a quarterly earnings miss with earnings per share of $0.34, lower than the analysts' expectations of $0.40.

Azarias Capital Management L.P. increased its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 17.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,451 shares of the industrial products company's stock after purchasing an additional 40,483 shares during the quarter. Kennametal makes up about 2.9% of Azarias Capital Management L.P.'s portfolio, making the stock its 11th largest holding. Azarias Capital Management L.P. owned about 0.36% of Kennametal worth $6,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the stock. Ameritas Advisory Services LLC acquired a new position in shares of Kennametal during the second quarter worth $27,000. SummerHaven Investment Management LLC increased its holdings in Kennametal by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,895 shares of the industrial products company's stock worth $801,000 after purchasing an additional 745 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Kennametal by 5.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 45,397 shares of the industrial products company's stock worth $1,041,000 after purchasing an additional 2,532 shares in the last quarter. GAMMA Investing LLC increased its holdings in Kennametal by 293.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,153 shares of the industrial products company's stock worth $49,000 after purchasing an additional 1,606 shares in the last quarter. Finally, Baron Wealth Management LLC acquired a new position in Kennametal in the 2nd quarter worth about $216,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KMT. UBS Group raised Kennametal from a "sell" rating to a "neutral" rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Friday, August 15th. Zacks Research upgraded shares of Kennametal to a "strong sell" rating in a research report on Monday, August 11th. Weiss Ratings restated a "hold (c)" rating on shares of Kennametal in a research report on Saturday, September 27th. Loop Capital restated a "hold" rating and issued a $24.00 price objective (up from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Kennametal from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $24.00.

Kennametal Trading Up 2.0%

KMT opened at $21.89 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average of $21.62 and a 200-day moving average of $21.61. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The stock has a market cap of $1.66 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 3.77 and a beta of 1.46.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly 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 return on equity of 8.09% and a net margin of 4.73%.The business had revenue of $516.45 million for the quarter, compared to analyst estimates of $527.52 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. The business's revenue was down 4.9% on a year-over-year basis. On average, sell-side analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.80 annualized dividend and a dividend yield of 3.7%. Kennametal's dividend payout ratio (DPR) 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.

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