Universal Beteiligungs und Servicegesellschaft mbH Takes $500,000 Position 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 the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,460 shares of the industrial products company's stock, valued at approximately $500,000.

A number of other hedge funds also recently made changes to their positions in KMT. Curat Global LLC bought a new stake in Kennametal during the first quarter worth approximately $35,000. Parallel Advisors LLC raised its holdings in Kennametal by 107.6% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock worth $42,000 after purchasing an additional 1,015 shares in the last quarter. Headlands Technologies LLC raised its holdings in Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock worth $51,000 after purchasing an additional 1,444 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Kennametal by 801.8% during the fourth 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. Finally, DekaBank Deutsche Girozentrale bought a new stake in Kennametal during the first quarter worth approximately $52,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KMT shares. Barclays boosted their target price on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Loop Capital reissued a "hold" rating and set a $24.00 target price (up previously from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Morgan Stanley lifted their price target on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.40.

Kennametal Trading Down 1.7%

NYSE KMT opened at $24.35 on Friday. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.10 and a current ratio of 2.44. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 3.28 and a beta of 1.44. The firm's 50 day moving average price is $23.28 and its two-hundred day moving average price is $22.04.

Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. The company had revenue of $486.40 million during the quarter, compared to analyst estimates of $489.30 million. 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 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Equities analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.20 per share. 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 3.3%. Kennametal's dividend payout ratio (DPR) is 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.

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