Azarias Capital Management L.P. Has $6.11 Million Stock Position in Kennametal Inc. (NYSE:KMT)

Azarias Capital Management L.P. boosted its holdings in shares of Kennametal Inc. (NYSE:KMT) by 34.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,399 shares of the industrial products company’s stock after buying an additional 67,139 shares during the quarter. Kennametal makes up approximately 2.7% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 17th largest position. Azarias Capital Management L.P.’s holdings in Kennametal were worth $6,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KMT. Signaturefd LLC grew its stake in Kennametal by 119.6% in the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock valued at $29,000 after buying an additional 603 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Kennametal by 0.9% in the first quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock valued at $1,730,000 after purchasing an additional 610 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Kennametal by 1.5% during the first quarter. Illinois Municipal Retirement Fund now owns 45,515 shares of the industrial products company’s stock worth $1,135,000 after purchasing an additional 684 shares during the period. ProShare Advisors LLC lifted its holdings in Kennametal by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 945 shares during the last quarter. Finally, CWM LLC lifted its holdings in Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 970 shares during the last quarter.

Kennametal Price Performance

Shares of NYSE KMT traded up $0.03 during mid-day trading on Monday, reaching $25.89. The company had a trading volume of 846,081 shares, compared to its average volume of 670,135. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.37 and a beta of 1.66. The business’s 50-day simple moving average is $24.33 and its 200 day simple moving average is $24.55. Kennametal Inc. has a one year low of $22.08 and a one year high of $27.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 2.42.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. Kennametal had a net margin of 5.29% and a return on equity of 9.35%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. On average, research analysts predict that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.09%. Kennametal’s dividend payout ratio is currently 59.26%.

Insider Transactions at Kennametal

In other news, CEO Sanjay Chowbey acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average price of $24.28 per share, with a total value of $121,400.00. Following the acquisition, the chief executive officer now directly owns 49,270 shares in the company, valued at approximately $1,196,275.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.61% of the company’s stock.

Wall Street Analysts Forecast Growth

KMT has been the topic of several recent research reports. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Loop Capital upped their price target on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Barclays lifted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.17.

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.