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

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in Kennametal by 6.0% during the first quarter. Victory Capital Management Inc. now owns 3,218,394 shares of the industrial products company's stock worth $68,552,000 after acquiring an additional 181,035 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Kennametal by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,529,095 shares of the industrial products company's stock valued at $32,570,000 after purchasing an additional 49,496 shares during the period. Northern Trust Corp grew its position in shares of Kennametal by 6.9% in the fourth quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company's stock valued at $23,869,000 after purchasing an additional 63,770 shares during the period. Voloridge Investment Management LLC grew its position in shares of Kennametal by 1.4% in the fourth quarter. Voloridge Investment Management LLC now owns 640,162 shares of the industrial products company's stock valued at $15,377,000 after purchasing an additional 8,753 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Kennametal by 2.2% in the first quarter. Principal Financial Group Inc. now owns 385,294 shares of the industrial products company's stock valued at $8,207,000 after purchasing an additional 8,351 shares during the period.

Kennametal Price Performance

KMT traded up $0.09 on Thursday, hitting $21.69. 747,288 shares of the company's stock were exchanged, compared to its average volume of 1,562,381. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a current ratio of 2.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $23.10 and a 200-day moving average price of $21.75. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 3.80 and a beta of 1.44.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the firm earned $0.49 EPS. The company's revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

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

Analyst Upgrades and Downgrades

KMT has been the topic of several research analyst reports. Loop Capital reiterated a "hold" rating and issued a $24.00 target price (up previously from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. 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. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. 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. Finally, Zacks Research raised shares of Kennametal to a "strong sell" rating in a research note on Monday, August 11th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Kennametal presently has a consensus rating of "Reduce" and an average target price of $24.00.

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.