XTX Topco Ltd Takes Position in Kennametal Inc. (NYSE:KMT)

Key Points

• XTX Topco Ltd has acquired 34,179 shares of Kennametal Inc., valued at approximately $728,000, solidifying its position in the company during the first quarter.
• Analysts have updated price targets for Kennametal, with Morgan Stanley raising its target from $20.00 to $21.00, and Barclays increasing it to $24.00, indicating a generally positive sentiment among research firms.
• Kennametal has announced a quarterly dividend of $0.20 per share, representing a dividend yield of 3.2%, further demonstrating its commitment to returning value to shareholders.

XTX Topco Ltd purchased a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 34,179 shares of the industrial products company's stock, valued at approximately $728,000.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Kennametal in the 4th quarter valued at approximately $5,543,000. Victory Capital Management Inc. raised its holdings in Kennametal by 6.0% in the 1st quarter. Victory Capital Management Inc. now owns 3,218,394 shares of the industrial products company's stock valued at $68,552,000 after acquiring an additional 181,035 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Kennametal by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock valued at $123,319,000 after acquiring an additional 101,159 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kennametal by 29.4% during the 4th quarter. JPMorgan Chase & Co. now owns 313,785 shares of the industrial products company's stock worth $7,537,000 after buying an additional 71,346 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings 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 buying an additional 66,025 shares during the last quarter.

Kennametal Price Performance

KMT traded up $0.31 on Friday, reaching $20.28. The company had a trading volume of 1,709,870 shares, compared to its average volume of 1,072,865. The business has a 50 day simple moving average of $23.37 and a 200 day simple moving average of $22.01. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 2.77 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.10 and a current ratio of 2.46. 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 quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). The company had revenue of $516.45 million during the quarter, compared to the consensus estimate of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The business's revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. As a group, sell-side analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.80 annualized dividend and a dividend yield of 3.9%. Kennametal's dividend payout ratio is presently 57.55%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KMT shares. Loop Capital reissued a "hold" rating and issued a $24.00 price objective (up from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barclays raised their price objective 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 raised their target price on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kennametal from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kennametal currently has a consensus rating of "Hold" and a consensus price target of $24.50.

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.