Hotchkis & Wiley Capital Management LLC Acquires 18,620 Shares of Kennametal Inc. $KMT

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Kennametal Inc. by 6.8%, owning 293,630 shares worth approximately $6.25 million at the end of the first quarter.
• Multiple analysts have provided mixed ratings on Kennametal stocks, with Barclays raising its price target from $22 to $24, while JPMorgan Chase lowered its target from $23 to $20.
• Kennametal recently reported earnings of $0.34 per share, missing estimates, and declared a quarterly dividend of $0.20, reflecting a yield of 3.7%.

Hotchkis & Wiley Capital Management LLC boosted its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,630 shares of the industrial products company's stock after buying an additional 18,620 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.39% of Kennametal worth $6,254,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of Kennametal by 6.0% in the 1st quarter. Victory Capital Management Inc. now owns 3,218,394 shares of the industrial products company's stock valued at $68,552,000 after purchasing an additional 181,035 shares during the period. American Century Companies Inc. boosted its position in shares of Kennametal by 9.2% in the 1st quarter. American Century Companies Inc. now owns 2,778,368 shares of the industrial products company's stock valued at $59,179,000 after purchasing an additional 234,395 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Kennametal by 3.3% in the 1st 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 lifted its stake in Kennametal by 8.4% in the 1st quarter. Northern Trust Corp now owns 1,077,284 shares of the industrial products company's stock worth $22,946,000 after acquiring an additional 83,568 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Kennametal by 1.4% in the 4th 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 in the last quarter.

Kennametal Stock Performance

KMT traded down $0.26 during midday trading on Friday, reaching $21.42. The company's stock had a trading volume of 755,866 shares, compared to its average volume of 1,534,728. The stock has a market cap of $1.63 billion, a P/E ratio of 17.85, a PEG ratio of 3.77 and a beta of 1.44. The company has a fifty day simple moving average of $23.09 and a 200 day simple moving average of $21.75. The company has a current ratio of 2.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last released its 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). Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The business had revenue of $516.45 million during the quarter, compared to analyst estimates of $527.52 million. During the same period last year, the business earned $0.49 EPS. The business's quarterly revenue was down 4.9% compared to the same quarter last year. Research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors 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 annualized dividend and a yield of 3.7%. Kennametal's payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KMT. UBS Group raised Kennametal from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $19.00 to $21.00 in a research note on Friday, August 15th. JPMorgan Chase & Co. reduced their price objective on Kennametal from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Morgan Stanley increased their price objective on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Loop Capital reaffirmed 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. Finally, Barclays raised their price target on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Five analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Kennametal has an average rating of "Reduce" and an average price target of $24.00.

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.