Deutsche Bank AG Sells 30,530 Shares of Kennametal Inc. $KMT

Key Points

• Deutsche Bank AG has reduced its stake in Kennametal Inc. by 23.0%, selling 30,530 shares during the first quarter, now owning 102,002 shares valued at approximately $2.17 million.
• Kennametal reported $0.34 earnings per share for the last quarter, missing analysts' expectations and experiencing a 4.9% year-over-year revenue decline to $516.45 million.
• The company declared a quarterly dividend of $0.20 per share, which corresponds to an annualized payout of $0.80 and a dividend yield of 3.9%.

Deutsche Bank AG reduced its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,002 shares of the industrial products company's stock after selling 30,530 shares during the period. Deutsche Bank AG owned about 0.13% of Kennametal worth $2,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Curat Global LLC bought a new stake in shares of Kennametal during the first quarter worth about $35,000. Parallel Advisors LLC grew its holdings in shares of Kennametal by 107.6% during 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 last quarter. US Bancorp DE grew its holdings in shares of Kennametal by 93.4% during the first quarter. US Bancorp DE now owns 2,145 shares of the industrial products company's stock worth $46,000 after purchasing an additional 1,036 shares during the last quarter. Sterling Capital Management LLC boosted its holdings 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 valued at $59,000 after acquiring an additional 2,181 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Kennametal in the first quarter valued at approximately $52,000.

Kennametal Price Performance

Kennametal stock opened at $20.7350 on Thursday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 3.70 and a beta of 1.44. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The stock's 50 day moving average price is $23.18 and its two-hundred day moving average price is $21.81. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.19 and a current ratio of 2.46.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). The business had revenue of $516.45 million for the quarter, compared to the consensus estimate of $527.52 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.Kennametal's quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. On average, equities analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, August 12th. Kennametal's dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analyst Weigh In

Several brokerages recently commented on KMT. Zacks Research upgraded Kennametal to a "strong sell" rating in a report on Monday, August 11th. Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on Kennametal from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Barclays upped their target price on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, UBS Group upgraded Kennametal from a "sell" rating to a "neutral" rating and upped their target price for the company from $19.00 to $21.00 in a report on Friday, August 15th. Five analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Kennametal presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.