Klein Pavlis & Peasley Financial Inc. Has $896,000 Stake in Kennametal Inc. $KMT

Klein Pavlis & Peasley Financial Inc. reduced its holdings in shares of Kennametal Inc. (NYSE:KMT) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,004 shares of the industrial products company’s stock after selling 959 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in Kennametal were worth $896,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Curat Global LLC acquired a new stake in Kennametal during the 1st quarter valued at $35,000. Parallel Advisors LLC raised its position in shares of Kennametal by 107.6% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 1,015 shares during the period. US Bancorp DE lifted its stake in shares of Kennametal by 93.4% during the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,036 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Kennametal by 293.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,153 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,606 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Kennametal in the 1st quarter valued at about $52,000.

Kennametal Trading Up 0.5%

Shares of NYSE:KMT opened at $20.94 on Monday. The business’s 50 day simple moving average is $22.02 and its 200 day simple moving average is $21.62. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19. The company has a market capitalization of $1.59 billion, a P/E ratio of 17.45, a P/E/G ratio of 3.69 and a beta of 1.44.

Kennametal (NYSE:KMT) last announced its quarterly earnings data 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 analyst estimates of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. Kennametal’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, research analysts anticipate that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders 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 dividend payout ratio (DPR) is currently 66.67%.

Analyst Ratings Changes

Several brokerages have issued reports on KMT. Zacks Research upgraded shares of Kennametal to a “strong sell” rating in a research report on Monday, August 11th. UBS Group upgraded Kennametal from a “sell” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $21.00 in a research note on Friday, August 15th. JPMorgan Chase & Co. reduced their price target on Kennametal from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Thursday, August 7th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $24.00 price objective (up from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $24.00.

About Kennametal

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.