Vident Advisory LLC Acquires New Position in Kennametal Inc. (NYSE:KMT)

Vident Advisory LLC purchased a new stake in Kennametal Inc. (NYSE:KMT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 20,265 shares of the industrial products company's stock, valued at approximately $487,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC boosted its holdings in Kennametal by 95.6% in the 3rd quarter. Barclays PLC now owns 163,670 shares of the industrial products company's stock worth $4,244,000 after buying an additional 79,992 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Kennametal by 20.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 16,717 shares of the industrial products company's stock worth $402,000 after purchasing an additional 2,841 shares during the last quarter. Blue Trust Inc. lifted its holdings in Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares during the last quarter. KBC Group NV lifted its holdings in Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 1,122 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Kennametal in the fourth quarter valued at approximately $59,207,000.

Kennametal Stock Performance

NYSE KMT traded down $0.31 during trading hours on Friday, hitting $21.55. The company had a trading volume of 1,152,182 shares, compared to its average volume of 885,174. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18. The company has a market cap of $1.64 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The business has a 50 day moving average of $20.21 and a 200-day moving average of $22.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities research analysts expect that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.71%. Kennametal's payout ratio is currently 57.55%.

Wall Street Analyst Weigh In

A number of research analysts have commented on KMT shares. Morgan Stanley upped their price target on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Barclays upped their price target on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $25.80.

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.