Kennametal Inc. (NYSE:KMT) Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Kennametal Inc. by 557.1% during the 1st quarter, owning approximately 77,877 shares valued at $1,659,000.
• Kennametal reported an earnings per share (EPS) of $0.47 for the last quarter, exceeding analysts' expectations of $0.26, although the company's revenue fell by 5.7% year-over-year.
• Kennametal has announced a quarterly dividend of $0.20, translating to an annualized yield of 3.2%, with the ex-dividend date set for August 12th.

Mackenzie Financial Corp grew its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 557.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,877 shares of the industrial products company's stock after purchasing an additional 66,025 shares during the period. Mackenzie Financial Corp owned approximately 0.10% of Kennametal worth $1,659,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Curat Global LLC purchased a new position in shares of Kennametal during the 1st quarter worth approximately $35,000. Parallel Advisors LLC raised its position in Kennametal by 107.6% in the first 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. Headlands Technologies LLC lifted its holdings in Kennametal by 214.2% in the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 1,444 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Kennametal in the first quarter valued at $52,000. Finally, Sterling Capital Management LLC boosted its position 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 worth $59,000 after purchasing an additional 2,181 shares in the last quarter.

Wall Street Analyst Weigh In

KMT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. reduced their price target on shares of Kennametal from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Thursday. Loop Capital reissued a "hold" rating and set a $24.00 price target (up previously from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Barclays raised their price objective on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Morgan Stanley lifted their price objective on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $24.50.

Kennametal Price Performance

Shares of NYSE:KMT traded up $0.50 on Friday, hitting $20.47. The company had a trading volume of 1,548,497 shares, compared to its average volume of 1,072,233. The company has a current ratio of 2.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.56 billion, a PE ratio of 17.05, a PEG ratio of 2.77 and a beta of 1.44. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The business has a 50 day moving average of $23.37 and a 200 day moving average of $22.01.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). The firm had revenue of $516.45 million during the quarter, compared to analysts' expectations of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. Kennametal's revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. As a group, equities analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. Kennametal's payout ratio is currently 57.55%.

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.