Kennametal Inc. (NYSE:KMT) Shares Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC grew its holdings in Kennametal Inc. (NYSE:KMT) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,150 shares of the industrial products company’s stock after purchasing an additional 600 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Kennametal were worth $727,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Curat Global LLC acquired a new stake in shares of Kennametal in the first quarter valued at approximately $35,000. Parallel Advisors LLC grew its holdings in Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock valued at $42,000 after buying an additional 1,015 shares in the last quarter. Headlands Technologies LLC grew its holdings in Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after buying an additional 1,444 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 2,181 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Kennametal by 10.5% during the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 898 shares during the period.

Kennametal Stock Up 0.7%

Shares of NYSE:KMT opened at $22.54 on Thursday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.69 and a beta of 1.40. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18. The business has a 50-day moving average price of $20.34 and a 200 day moving average price of $22.58. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The business had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $489.30 million. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. Sell-side analysts expect that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Tuesday, May 13th. Kennametal’s dividend payout ratio (DPR) is 57.55%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KMT shares. Morgan Stanley upped their price objective on shares of Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Barclays increased their price target 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. Finally, Wall Street Zen upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.80.

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.