Entropy Technologies LP Invests $339,000 in Kennametal Inc. $KMT

Key Points

• Entropy Technologies LP has invested approximately $339,000 in Kennametal Inc., acquiring 15,929 shares of the industrial products company.
• Kennametal Inc. reported earnings per share (EPS) of $0.34 for the last quarter, missing analyst expectations by $0.06, with revenue down 4.9% year-over-year.
• The company declared a quarterly dividend of $0.20 per share, reflecting an annual dividend yield of 3.8%, with an upcoming payment date on August 26th.

Entropy Technologies LP acquired a new position in Kennametal Inc. (NYSE:KMT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,929 shares of the industrial products company's stock, valued at approximately $339,000.

A number of other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of Kennametal by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock worth $123,319,000 after acquiring an additional 101,159 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Kennametal by 6.0% in 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. boosted its stake 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 worth $32,570,000 after acquiring an additional 49,496 shares during the period. Northern Trust Corp boosted its stake 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 worth $23,869,000 after acquiring an additional 63,770 shares during the period. Finally, Voloridge Investment Management LLC boosted its stake 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 worth $15,377,000 after acquiring an additional 8,753 shares during the period.

Kennametal Trading Up 0.9%

KMT stock traded up $0.18 during midday trading on Tuesday, reaching $21.05. 405,206 shares of the company traded hands, compared to its average volume of 1,086,638. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.19 and a current ratio of 2.46. The business has a 50 day moving average of $23.25 and a 200-day moving average of $21.82. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 3.69 and a beta of 1.44.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share 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 during the quarter, compared to analysts' expectations of $527.52 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company's quarterly revenue was down 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, August 12th. Kennametal's dividend payout ratio is presently 66.67%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KMT. UBS Group raised Kennametal from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $19.00 to $21.00 in a research note on Friday. Wall Street Zen raised Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Loop Capital reissued a "hold" rating and set a $24.00 price target (up from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Morgan Stanley increased their price target on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Barclays increased their price target on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Kennametal presently has a consensus rating of "Reduce" and a consensus price target 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.