Charles Schwab Investment Management Inc. Acquires 49,496 Shares of Kennametal Inc. $KMT

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Kennametal Inc. by 3.3%, owning 1,529,095 shares worth approximately $32.57 million at the end of the most recent quarter.
• A recent earnings report revealed that Kennametal missed analyst expectations, reporting $0.34 earnings per share and a revenue of $516.45 million, down 4.9% from the previous year.
• Wall Street analysts have provided mixed ratings on Kennametal, with five analysts giving a Hold rating and three assigning a Sell rating, while the average target price is set at $24.00.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 3.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,529,095 shares of the industrial products company's stock after purchasing an additional 49,496 shares during the period. Charles Schwab Investment Management Inc. owned 1.98% of Kennametal worth $32,570,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KMT. Cooper Haims Advisors LLC bought a new position in Kennametal in the 1st quarter valued at $7,453,000. Victory Capital Management Inc. boosted its position in 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 buying an additional 181,035 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Kennametal by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock valued at $123,319,000 after buying an additional 101,159 shares during the last quarter. Mackenzie Financial Corp boosted its position in Kennametal by 557.1% in the 1st quarter. Mackenzie Financial Corp now owns 77,877 shares of the industrial products company's stock valued at $1,659,000 after buying an additional 66,025 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Kennametal by 6.9% in the 4th quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company's stock valued at $23,869,000 after buying an additional 63,770 shares during the last quarter.

Kennametal Trading Down 0.7%

Shares of NYSE:KMT traded down $0.1490 during midday trading on Monday, hitting $21.4810. The company had a trading volume of 725,569 shares, compared to its average volume of 1,554,147. Kennametal Inc. has a 12 month low of $17.30 and a 12 month 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 stock has a market cap of $1.63 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 3.80 and a beta of 1.44. The firm has a fifty day simple moving average of $23.13 and a 200 day simple moving average of $21.76.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly 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 company had revenue of $516.45 million during the quarter, compared to the consensus estimate of $527.52 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts predict that Kennametal Inc. will post 1.17 EPS for the current 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. The ex-dividend date is Tuesday, August 12th. This represents a $0.80 annualized dividend and a yield of 3.7%. Kennametal's payout ratio is currently 66.67%.

Analysts Set New Price Targets

A number of brokerages have commented on KMT. UBS Group upgraded Kennametal from a "sell" rating to a "neutral" rating and increased their price objective for the company from $19.00 to $21.00 in a research report on Friday, August 15th. Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. reduced their price target on Kennametal from $23.00 to $20.00 and set an "underweight" rating on the stock in a research report on Thursday, August 7th. Loop Capital restated a "hold" rating and issued a $24.00 price target (up from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Finally, Zacks Research upgraded Kennametal to a "strong sell" rating in a research report on Monday, August 11th. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price 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.