Fuller & Thaler Asset Management Inc. Decreases Stock Holdings in Kennametal Inc. $KMT

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in Kennametal Inc. by 1.0%, holding 1,406,606 shares worth approximately $29.96 million after selling 13,509 shares in the first quarter.
• Kennametal reported a quarterly EPS of $0.34, missing estimates by $0.06, with revenue of $516.45 million, down 4.9% year-over-year.
• The company declared a quarterly dividend of $0.20, resulting in an annual yield of 3.8%, with a payout ratio of 66.67%.

Fuller & Thaler Asset Management Inc. decreased its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,406,606 shares of the industrial products company's stock after selling 13,509 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 1.85% of Kennametal worth $29,961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of KMT. LPL Financial LLC increased its position in Kennametal by 29.3% during the fourth quarter. LPL Financial LLC now owns 17,566 shares of the industrial products company's stock valued at $422,000 after acquiring an additional 3,978 shares during the last quarter. Wells Fargo & Company MN increased its position in Kennametal by 14.5% during the fourth quarter. Wells Fargo & Company MN now owns 58,316 shares of the industrial products company's stock valued at $1,401,000 after acquiring an additional 7,377 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Kennametal by 13.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 17,989 shares of the industrial products company's stock valued at $432,000 after acquiring an additional 2,130 shares during the last quarter. Bank of Montreal Can increased its position in Kennametal by 10.5% during the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 898 shares during the last quarter. Finally, Invesco Ltd. increased its position in Kennametal by 4.1% during the fourth quarter. Invesco Ltd. now owns 426,083 shares of the industrial products company's stock valued at $10,235,000 after acquiring an additional 16,926 shares during the last quarter.

Kennametal Stock Down 0.6%

Kennametal stock traded down $0.13 during midday trading on Monday, hitting $21.50. 119,037 shares of the company's stock were exchanged, compared to its average volume of 1,084,146. 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 Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The firm has a 50-day moving average of $23.15 and a two-hundred day moving average of $21.77. The company has a market cap of $1.63 billion, a PE ratio of 17.92, a P/E/G ratio of 3.80 and a beta of 1.44.

Kennametal (NYSE:KMT - Get Free Report) last issued 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 the consensus estimate of $527.52 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. The firm's revenue was down 4.9% on a year-over-year basis. As a group, analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.7%. 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 weighed in on KMT. Loop Capital reiterated a "hold" rating and set a $24.00 price objective (up previously from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Zacks Research upgraded shares of Kennametal to a "strong sell" rating in a report on Monday, August 11th. UBS Group upgraded shares of Kennametal from a "sell" rating to a "neutral" rating and upped their price target for the stock from $19.00 to $21.00 in a report on Friday, August 15th. JPMorgan Chase & Co. cut their price target on shares of Kennametal from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Finally, Morgan Stanley upped their price target on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently 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.