Savvy Advisors Inc. Takes Position in Kennametal Inc. $KMT

Savvy Advisors Inc. acquired a new stake in shares of Kennametal Inc. (NYSE:KMT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,954 shares of the industrial products company’s stock, valued at approximately $894,000.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in Kennametal by 17.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company’s stock valued at $282,000 after buying an additional 2,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Kennametal by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 385,294 shares of the industrial products company’s stock worth $8,207,000 after buying an additional 8,351 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Kennametal by 219.5% in the first quarter. Envestnet Asset Management Inc. now owns 57,481 shares of the industrial products company’s stock worth $1,224,000 after acquiring an additional 39,492 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Kennametal during the first quarter valued at $52,000. Finally, Ballentine Partners LLC bought a new position in Kennametal in the first quarter valued at about $261,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KMT shares. UBS Group upgraded Kennametal from a “sell” rating to a “neutral” rating and boosted their price target for the company from $19.00 to $21.00 in a research note on Friday, August 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Kennametal in a report on Wednesday, October 8th. Zacks Research upgraded shares of Kennametal from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Kennametal from $20.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Kennametal has a consensus rating of “Reduce” and a consensus price target of $24.00.

Kennametal Stock Performance

KMT opened at $22.27 on Friday. The company has a 50 day simple moving average of $21.56 and a two-hundred day simple moving average of $21.85. 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 firm has a market cap of $1.69 billion, a P/E ratio of 18.56, a PEG ratio of 3.83 and a beta of 1.46. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The firm had revenue of $516.45 million for the quarter, compared to analysts’ expectations of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. Equities analysts forecast that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. Kennametal’s dividend payout ratio is 66.67%.

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.