Kennametal Inc. (NYSE:KMT) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC grew its stake in Kennametal Inc. (NYSE:KMT) by 6.4% during the third quarter, Holdings Channel.com reports. The fund owned 17,840 shares of the industrial products company’s stock after acquiring an additional 1,070 shares during the period. Inspire Investing LLC’s holdings in Kennametal were worth $463,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KMT. CWM LLC raised its position in Kennametal by 40.3% in the third quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 1,230 shares during the period. SG Americas Securities LLC grew its stake in shares of Kennametal by 74.6% in the third quarter. SG Americas Securities LLC now owns 12,173 shares of the industrial products company’s stock valued at $316,000 after buying an additional 5,202 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Kennametal in the 2nd quarter valued at $451,000. Brandes Investment Partners LP raised its holdings in shares of Kennametal by 35.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after buying an additional 606,477 shares during the period. Finally, Quarry LP lifted its stake in Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 704 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on KMT. Barclays lifted their target price on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Loop Capital upped their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Finally, StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, Kennametal currently has a consensus rating of “Hold” and an average price target of $24.00.

Kennametal Stock Up 0.6 %

Shares of Kennametal stock opened at $25.55 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. Kennametal Inc. has a 52-week low of $22.08 and a 52-week high of $27.04. The company has a market capitalization of $2.01 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.65 and a beta of 1.65. The company has a 50 day moving average of $25.23 and a 200 day moving average of $24.75.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The firm had revenue of $543.31 million during the quarter, compared to the consensus estimate of $532.72 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. As a group, research analysts forecast that Kennametal Inc. will post 1.51 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.13%. The ex-dividend date was Tuesday, August 13th. Kennametal’s payout ratio is 59.26%.

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.