Universal Beteiligungs und Servicegesellschaft mbH Invests $500,000 in Kennametal Inc. (NYSE:KMT)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Kennametal Inc. worth approximately $500,000, purchasing 23,460 shares in the first quarter.
• Several hedge funds have increased their holdings in Kennametal, with significant increases reported by Parallel Advisors LLC (107.6% increase) and Sterling Capital Management LLC (801.8% increase).
• Kennametal announced a quarterly dividend of $0.20 per share, which translates to a 3.3% annualized yield, with an upcoming ex-dividend date set for August 12th.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,460 shares of the industrial products company's stock, valued at approximately $500,000.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Kennametal by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock worth $123,319,000 after acquiring an additional 101,159 shares during the period. Victory Capital Management Inc. increased its holdings in Kennametal by 6.0% in the first quarter. Victory Capital Management Inc. now owns 3,218,394 shares of the industrial products company's stock worth $68,552,000 after purchasing an additional 181,035 shares in the last quarter. Northern Trust Corp raised its position in shares of Kennametal by 6.9% during the fourth quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company's stock worth $23,869,000 after purchasing an additional 63,770 shares during the period. Voloridge Investment Management LLC raised its position in shares of Kennametal by 1.4% during the fourth quarter. Voloridge Investment Management LLC now owns 640,162 shares of the industrial products company's stock worth $15,377,000 after purchasing an additional 8,753 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Kennametal by 32.7% during the fourth 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.

Kennametal Price Performance

Shares of NYSE:KMT traded down $5.07 on Wednesday, hitting $20.06. The company's stock had a trading volume of 3,500,711 shares, compared to its average volume of 1,036,172. The company has a 50-day simple moving average of $23.42 and a 200 day simple moving average of $22.05. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The company has a market capitalization of $1.53 billion, a PE ratio of 14.40, a PEG ratio of 3.34 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). Kennametal had a net margin of 5.45% and a return on equity of 9.12%. The company's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. Sell-side analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on KMT. Morgan Stanley upped their price target on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Loop Capital restated a "hold" rating and issued a $24.00 price objective (up previously from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Barclays upped 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, Wall Street Zen raised Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $25.40.

About Kennametal

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.