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

Inspire Investing LLC grew its position in Kennametal Inc. (NYSE:KMT) by 16.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,770 shares of the industrial products company’s stock after acquiring an additional 2,374 shares during the quarter. Inspire Investing LLC’s holdings in Kennametal were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in KMT. UniSuper Management Pty Ltd bought a new position in Kennametal in the first quarter worth about $534,000. Wellington Management Group LLP raised its position in shares of Kennametal by 7.8% during the 4th quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock worth $109,371,000 after purchasing an additional 305,542 shares during the period. Azarias Capital Management L.P. bought a new stake in shares of Kennametal in the 1st quarter worth approximately $4,795,000. Hsbc Holdings PLC boosted its position in Kennametal by 188.0% during the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock valued at $2,167,000 after purchasing an additional 54,882 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Kennametal by 85.3% during the 1st quarter. BNP Paribas Financial Markets now owns 87,340 shares of the industrial products company’s stock valued at $2,178,000 after purchasing an additional 40,193 shares during the period.

Kennametal Stock Performance

KMT stock opened at $25.72 on Friday. The company has a 50-day simple moving average of $25.08 and a 200 day simple moving average of $24.65. The company has a market capitalization of $2.02 billion, a P/E ratio of 19.05, a PEG ratio of 2.62 and a beta of 1.65. 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 fifty-two week low of $22.08 and a fifty-two week high of $27.04.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share 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 company had revenue of $543.31 million during the quarter, compared to analyst estimates of $532.72 million. During the same period in the prior year, the business posted $0.51 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts predict that Kennametal Inc. will post 1.51 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, August 13th. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Saturday. Loop Capital lifted their price objective on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Finally, Barclays boosted their target price on shares of Kennametal from $24.00 to $25.00 and gave the company 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 issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.17.

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.