Victory Capital Management Inc. Boosts Position in Kennametal Inc. (NYSE:KMT)

Victory Capital Management Inc. boosted its position in Kennametal Inc. (NYSE:KMT - Free Report) by 6.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,218,394 shares of the industrial products company's stock after acquiring an additional 181,035 shares during the period. Victory Capital Management Inc. owned about 4.16% of Kennametal worth $68,552,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC acquired a new position in Kennametal in the 4th quarter worth $283,000. Raymond James Financial Inc. acquired a new position in Kennametal in the 4th quarter worth $373,000. Amundi lifted its holdings in Kennametal by 174.7% in the 4th quarter. Amundi now owns 40,359 shares of the industrial products company's stock worth $982,000 after buying an additional 25,666 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Kennametal by 54.1% in the 4th quarter. Intech Investment Management LLC now owns 33,001 shares of the industrial products company's stock worth $793,000 after buying an additional 11,589 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Kennametal by 7.0% in the 4th quarter. Teacher Retirement System of Texas now owns 37,606 shares of the industrial products company's stock worth $903,000 after buying an additional 2,459 shares in the last quarter.

Analyst Ratings Changes

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

Kennametal Trading Down 0.2%

Shares of NYSE:KMT traded down $0.05 during trading on Monday, hitting $24.53. 874,711 shares of the company's stock were exchanged, compared to its average volume of 941,803. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18. The firm has a 50-day moving average price of $22.60 and a two-hundred day moving average price of $21.95. The company has a current ratio of 2.44, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.87 billion, a P/E ratio of 17.64, a PEG ratio of 3.31 and a beta of 1.40.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. The firm had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The business's revenue was down 5.7% on a year-over-year basis. Equities analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.20 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.26%. Kennametal's dividend payout ratio (DPR) is currently 57.55%.

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.