Azarias Capital Management L.P. Buys 40,687 Shares of Kennametal Inc. (NYSE:KMT)

Azarias Capital Management L.P. boosted its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 20.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 235,968 shares of the industrial products company's stock after purchasing an additional 40,687 shares during the quarter. Kennametal comprises about 2.8% of Azarias Capital Management L.P.'s holdings, making the stock its 13th biggest holding. Azarias Capital Management L.P. owned 0.31% of Kennametal worth $5,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Curat Global LLC purchased a new stake in shares of Kennametal during the 1st quarter valued at about $35,000. Parallel Advisors LLC raised its position 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 acquiring an additional 1,015 shares during the period. Headlands Technologies LLC raised its position in Kennametal by 214.2% in the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock worth $51,000 after acquiring an additional 1,444 shares during the period. Sterling Capital Management LLC raised its position in Kennametal by 801.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock worth $59,000 after acquiring an additional 2,181 shares during the period. Finally, Bank of Montreal Can raised its position 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 acquiring an additional 898 shares during the period.

Analyst Ratings Changes

KMT has been the topic of several recent research reports. Barclays increased their price target on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Morgan Stanley increased their price target on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $25.80.

Kennametal Price Performance

Shares of NYSE KMT traded down $0.20 during mid-day trading on Friday, reaching $21.80. The company's stock had a trading volume of 2,208,573 shares, compared to its average volume of 902,183. The firm has a market capitalization of $1.66 billion, a PE ratio of 15.68, a P/E/G ratio of 2.99 and a beta of 1.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The stock has a fifty day moving average of $20.85 and a two-hundred day moving average of $22.26.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21. The firm had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. As a group, sell-side analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.67%. Kennametal's payout ratio is currently 57.55%.

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.