Kennametal Inc. $KMT Shares Sold by Dean Capital Management

Key Points

• Dean Capital Management reduced its holdings in Kennametal Inc. by 62.7% during Q1, now owning only 38,524 shares valued at approximately $821,000.
• Kennametal reported a missed earnings estimate with a Q1 EPS of $0.34, falling short of the $0.40 consensus, and a 4.9% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.20 per share, resulting in an annualized yield of 3.8%, with a payout ratio of 66.67%.

Dean Capital Management cut its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 62.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 38,524 shares of the industrial products company's stock after selling 64,622 shares during the quarter. Dean Capital Management owned 0.05% of Kennametal worth $821,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Curat Global LLC acquired a new position in shares of Kennametal during the 1st quarter valued at $35,000. Parallel Advisors LLC boosted its stake in shares of Kennametal by 107.6% during the 1st 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 in the last quarter. US Bancorp DE boosted its stake in shares of Kennametal by 93.4% during the 1st 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Kennametal during the 1st quarter worth $52,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Kennametal during the 1st quarter worth $64,000.

Kennametal Stock Performance

Shares of Kennametal stock opened at $21.07 on Wednesday. The stock has a market cap of $1.60 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 3.76 and a beta of 1.44. The business has a fifty day simple moving average of $22.91 and a 200-day simple moving average of $21.70. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 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 firm had revenue of $516.45 million during the quarter, compared to analysts' expectations of $527.52 million. During the same quarter last year, the firm earned $0.49 EPS. The business's revenue for the quarter was down 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. Kennametal's payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

KMT has been the subject of several research reports. UBS Group raised 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 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. Wall Street Zen raised Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Zacks Research raised Kennametal to a "strong sell" rating in a research report on Monday, August 11th. Finally, Loop Capital reaffirmed a "hold" rating and issued a $24.00 target price (up previously from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Five investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Kennametal has a consensus rating of "Reduce" and a consensus 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.

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