Voya Investment Management LLC Has $4.71 Million Stake in Kennametal Inc. $KMT

Key Points

• Voya Investment Management LLC increased its holdings in Kennametal Inc. by 15.2%, owning 221,153 shares valued at approximately $4.71 million.
• Kennametal reported $0.34 earnings per share for the last quarter, which fell short of analysts' expectations of $0.40, and experienced a 4.9% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.20 per share, with an annualized dividend yield of 3.8% and a payout ratio of 66.67%.

Voya Investment Management LLC lifted its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 221,153 shares of the industrial products company's stock after acquiring an additional 29,203 shares during the quarter. Voya Investment Management LLC owned about 0.29% of Kennametal worth $4,711,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in Kennametal by 557.1% during the 1st quarter. Mackenzie Financial Corp now owns 77,877 shares of the industrial products company's stock valued at $1,659,000 after purchasing an additional 66,025 shares during the period. Ieq Capital LLC acquired a new position in Kennametal in the 1st quarter valued at approximately $307,000. Janney Montgomery Scott LLC raised its holdings in Kennametal by 17.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company's stock valued at $282,000 after acquiring an additional 2,000 shares in the last quarter. Nuveen LLC acquired a new position in Kennametal in the 1st quarter valued at approximately $3,949,000. Finally, GAMMA Investing LLC raised its holdings in Kennametal by 699.1% in the 1st quarter. GAMMA Investing LLC now owns 11,651 shares of the industrial products company's stock valued at $248,000 after acquiring an additional 10,193 shares in the last quarter.

Kennametal Stock Down 1.6%

Shares of Kennametal stock traded down $0.35 during trading on Friday, reaching $20.93. The stock had a trading volume of 1,710,200 shares, compared to its average volume of 793,019. The company has a current ratio of 2.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $22.37 and a two-hundred day moving average price of $21.65. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 3.69 and a beta of 1.44. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18.

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 company had revenue of $516.45 million during the quarter, compared to analyst estimates of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. Kennametal's revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. Sell-side analysts predict that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Kennametal's payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KMT shares. JPMorgan Chase & Co. dropped their target price on Kennametal from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. UBS Group upgraded Kennametal from a "sell" rating to a "neutral" rating and increased their price target for the stock from $19.00 to $21.00 in a research report on Friday, August 15th. Zacks Research upgraded Kennametal to a "strong sell" rating in a research report on Monday, August 11th. Finally, Loop Capital restated a "hold" rating and set a $24.00 price target (up from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Kennametal has an average rating of "Reduce" and an average price target of $24.00.

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.