Dimensional Fund Advisors LP Sells 95,095 Shares of Kennametal Inc. $KMT

Key Points

• Dimensional Fund Advisors LP has reduced its holdings in Kennametal Inc. by 1.9%, now owning 5,038,956 shares valued at approximately $107.33 million.
• Kennametal's stock recently increased by 3.8%. The company reported earnings of $0.34 per share, missing estimates and showing a year-over-year revenue decline of 4.9%.
• The company declared a quarterly dividend of $0.20 per share, providing an annualized yield of 3.7%. The dividend payout ratio stands at 66.67%.

Dimensional Fund Advisors LP trimmed its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,038,956 shares of the industrial products company's stock after selling 95,095 shares during the period. Dimensional Fund Advisors LP owned about 6.61% of Kennametal worth $107,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Curat Global LLC acquired a new stake in Kennametal in the 1st quarter worth $35,000. Parallel Advisors LLC grew its position in Kennametal by 107.6% in the 1st 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 position in Kennametal by 93.4% in the 1st 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. DekaBank Deutsche Girozentrale acquired a new stake in Kennametal in the 1st quarter worth $52,000. Finally, Bayforest Capital Ltd acquired a new stake in Kennametal in the 1st quarter worth $64,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Kennametal to a "strong sell" rating in a research report on Monday, August 11th. UBS Group upgraded shares of Kennametal from a "sell" rating to a "neutral" rating and lifted their target price for the company from $19.00 to $21.00 in a research report on Friday, August 15th. Morgan Stanley lifted their target price on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Barclays lifted 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. Finally, Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $24.00.

Kennametal Price Performance

NYSE:KMT traded up $0.13 on Wednesday, reaching $21.57. The stock had a trading volume of 341,883 shares, compared to its average volume of 1,082,929. The company has a market capitalization of $1.64 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 3.78 and a beta of 1.44. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18. 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 stock has a fifty day moving average price of $23.12 and a 200-day moving average price of $21.76.

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

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.7%. Kennametal's payout ratio is currently 66.67%.

About Kennametal

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.