Kennametal Inc. (NYSE:KMT) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 43.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,086 shares of the industrial products company's stock after purchasing an additional 13,943 shares during the quarter. Lazard Asset Management LLC owned 0.06% of Kennametal worth $1,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock worth $11,270,000 after purchasing an additional 115,718 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Kennametal during the 4th quarter valued at approximately $373,000. AMH Equity Ltd purchased a new position in shares of Kennametal during the 4th quarter valued at approximately $1,441,000. Amundi lifted its position in shares of Kennametal by 174.7% during the 4th quarter. Amundi now owns 40,359 shares of the industrial products company's stock valued at $982,000 after buying an additional 25,666 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Kennametal by 4.1% during the 4th quarter. Invesco Ltd. now owns 426,083 shares of the industrial products company's stock valued at $10,235,000 after buying an additional 16,926 shares in the last quarter.

Kennametal Price Performance

KMT traded down $0.26 on Friday, hitting $21.03. 753,732 shares of the company's stock were exchanged, compared to its average volume of 881,741. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $20.25 and a 200-day moving average price of $23.14. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 3.69 and a beta of 1.39.

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 the consensus estimate of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The company had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. During the same quarter in the previous year, the company posted $0.30 EPS. The firm's quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.80%. Kennametal's dividend payout ratio (DPR) is presently 57.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KMT. Morgan Stanley increased their target price on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Barclays increased their target price on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Kennametal presently has a consensus rating of "Hold" and a consensus target price of $25.80.

Kennametal Company 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.