Azarias Capital Management L.P. raised its position in Kennametal Inc. (NYSE:KMT - Free Report) by 20.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,968 shares of the industrial products company's stock after acquiring an additional 40,687 shares during the quarter. Kennametal accounts for about 2.8% of Azarias Capital Management L.P.'s investment portfolio, making the stock its 13th largest holding. Azarias Capital Management L.P. owned approximately 0.31% of Kennametal worth $5,026,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. SummerHaven Investment Management LLC grew its position in shares of Kennametal by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 34,150 shares of the industrial products company's stock worth $727,000 after buying an additional 600 shares in the last quarter. Sei Investments Co. grew its position in shares of Kennametal by 1.8% during the fourth quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock worth $831,000 after buying an additional 609 shares in the last quarter. Bank of Montreal Can boosted its holdings in Kennametal by 10.5% in the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock worth $227,000 after purchasing an additional 898 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Kennametal by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,294 shares of the industrial products company's stock worth $1,064,000 after purchasing an additional 934 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Kennametal by 107.6% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock worth $42,000 after purchasing an additional 1,015 shares during the period.
Kennametal Stock Performance
KMT stock traded down $0.07 during mid-day trading on Monday, reaching $21.79. The company had a trading volume of 1,237,631 shares, compared to its average volume of 901,054. The company has a quick ratio of 1.10, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.66 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.97 and a beta of 1.40. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The stock's 50-day simple moving average is $20.91 and its two-hundred day simple moving average is $22.14.
Kennametal (NYSE:KMT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. The company had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. Research analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current year.
Kennametal Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Kennametal's payout ratio is 57.55%.
Wall Street Analysts Forecast Growth
KMT has been the subject of a number of research reports. Barclays lifted their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Morgan Stanley lifted 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, Wall Street Zen raised shares of Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Kennametal presently has a consensus rating of "Hold" and an average target price of $25.80.
View Our Latest Stock Analysis on Kennametal
About Kennametal
(
Free Report)
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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