Klein Pavlis & Peasley Financial Inc. Invests $856,000 in Kennametal Inc. (NYSE:KMT)

Key Points

• Klein Pavlis & Peasley Financial Inc. made a new investment of approximately $856,000 in Kennametal Inc., acquiring 39,963 shares, which constitutes 0.05% of the company's stock.
• Several large investors, including Dimensional Fund Advisors LP and Victory Capital Management Inc., have increased their holdings in Kennametal, indicating growing interest in the company.
• Kennametal recently announced a quarterly $0.20 dividend, resulting in an annualized dividend yield of 3.3%.

Klein Pavlis & Peasley Financial Inc. bought a new position in Kennametal Inc. (NYSE:KMT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 39,963 shares of the industrial products company's stock, valued at approximately $856,000. Klein Pavlis & Peasley Financial Inc. owned 0.05% of Kennametal at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Kennametal in the fourth quarter valued at about $373,000. Sei Investments Co. increased its stake in Kennametal by 1.8% in the fourth quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock valued at $831,000 after acquiring an additional 609 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Kennametal in the fourth quarter valued at about $336,000. LPL Financial LLC boosted its position in Kennametal by 29.3% in the fourth quarter. LPL Financial LLC now owns 17,566 shares of the industrial products company's stock valued at $422,000 after buying an additional 3,978 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Kennametal by 29.4% in the fourth quarter. JPMorgan Chase & Co. now owns 313,785 shares of the industrial products company's stock valued at $7,537,000 after buying an additional 71,346 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on KMT shares. Barclays boosted their price target on shares of Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Morgan Stanley boosted their price target 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. Loop Capital reissued a "hold" rating and set a $24.00 price target (up from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised shares of Kennametal from a "hold" rating to a "buy" rating in a research note 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $25.40.

Kennametal Trading Down 20.3%

NYSE:KMT traded down $5.11 during trading hours on Wednesday, hitting $20.02. The stock had a trading volume of 3,600,836 shares, compared to its average volume of 1,036,172. The business's 50 day moving average is $23.42 and its 200-day moving average is $22.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.10 and a current ratio of 2.44. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 3.34 and a beta of 1.44.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data 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 9.12% and a net margin of 5.45%. During the same quarter in the prior year, the company posted $0.49 EPS. Kennametal's quarterly revenue was down 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. Kennametal's dividend payout ratio (DPR) is currently 57.55%.

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.