Hotchkis & Wiley Capital Management LLC Grows Stock Holdings in 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 lifted its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 293,630 shares of the industrial products company's stock after acquiring an additional 18,620 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.39% of Kennametal worth $6,254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in KMT. Curat Global LLC bought a new stake in shares of Kennametal in the first quarter worth approximately $35,000. Parallel Advisors LLC grew its stake in shares of Kennametal by 107.6% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock worth $42,000 after acquiring an additional 1,015 shares during the period. US Bancorp DE grew its stake in shares of Kennametal by 93.4% in the first quarter. US Bancorp DE now owns 2,145 shares of the industrial products company's stock worth $46,000 after acquiring an additional 1,036 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Kennametal in the first quarter worth approximately $52,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Kennametal in the first quarter worth approximately $64,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KMT. Loop Capital reiterated a "hold" rating and issued a $24.00 price target (up from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. UBS Group raised shares of Kennametal from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $19.00 to $21.00 in a report on Friday, August 15th. Wall Street Zen raised shares of Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Barclays raised their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $24.00.

Kennametal Price Performance

Shares of KMT stock traded down $0.26 during mid-day trading on Friday, hitting $21.42. The company had a trading volume of 755,866 shares, compared to its average volume of 1,554,757. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The stock's 50 day moving average price is $23.09 and its 200-day moving average price is $21.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19. The company has a market capitalization of $1.63 billion, a P/E ratio of 17.85, a P/E/G ratio of 3.81 and a beta of 1.44.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 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 company had revenue of $516.45 million during the quarter, compared to analysts' expectations of $527.52 million. During the same period last year, the firm posted $0.49 EPS. Kennametal's quarterly revenue was down 4.9% compared to the same quarter last year. Equities research analysts forecast that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

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