Kennametal Inc. $KMT Stock Holdings Boosted by Voya Investment Management LLC

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 position in Kennametal Inc. (NYSE:KMT - Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 0.29% of Kennametal worth $4,711,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its stake in shares of Kennametal by 557.1% during the 1st quarter. Mackenzie Financial Corp now owns 77,877 shares of the industrial products company's stock worth $1,659,000 after acquiring an additional 66,025 shares in the last quarter. Ieq Capital LLC purchased a new stake in Kennametal in the first quarter valued at $307,000. Janney Montgomery Scott LLC raised its position in Kennametal by 17.8% during the first 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 purchased a new stake in Kennametal during the first quarter worth $3,949,000. Finally, GAMMA Investing LLC grew its position in shares of Kennametal by 699.1% during 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 during the period.

Kennametal Trading Up 0.7%

KMT traded up $0.15 during midday trading on Monday, hitting $21.14. The company's stock had a trading volume of 776,819 shares, compared to its average volume of 825,689. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The firm has a 50-day moving average price of $22.30 and a two-hundred day moving average price of $21.64. 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 firm has a market cap of $1.61 billion, a P/E ratio of 17.61, a PEG ratio of 3.69 and a beta of 1.44.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). The business had revenue of $516.45 million during the quarter, compared to analyst estimates of $527.52 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.Kennametal's revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. On average, research analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Kennametal's payout ratio is currently 66.67%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Kennametal to a "strong sell" rating in a report on Monday, August 11th. 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 report on Friday, August 15th. Loop Capital reiterated a "hold" rating and issued a $24.00 price objective (up from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Kennametal from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. 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, the company currently has a consensus rating of "Reduce" and an average target price of $24.00.

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.