Barrow Hanley Mewhinney & Strauss LLC trimmed its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,950,197 shares of the industrial products company's stock after selling 83,730 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 2.51% of Kennametal worth $46,844,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its position in Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 1,444 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Kennametal by 801.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock valued at $59,000 after purchasing an additional 2,181 shares during the last quarter. KBC Group NV grew its stake in Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after buying an additional 1,122 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Kennametal by 10.5% during the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock worth $227,000 after buying an additional 898 shares during the last quarter.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Barclays increased their price target on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Morgan Stanley lifted their target price on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.80.
Check Out Our Latest Stock Report on Kennametal
Kennametal Stock Performance
KMT traded down $0.26 during trading on Friday, hitting $21.03. The stock had a trading volume of 753,732 shares, compared to its average volume of 881,741. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The company's 50-day moving average price is $20.25 and its 200 day moving average price is $23.14. The firm has a market capitalization of $1.60 billion, a P/E ratio of 17.23, a PEG ratio of 3.69 and a beta of 1.39. 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 announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.21. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Kennametal's revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. On average, equities research analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.
Kennametal Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Tuesday, May 13th. Kennametal's payout ratio is currently 57.55%.
About Kennametal
(
Free Report)
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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