Kennametal Inc. (NYSE:KMT) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in shares of Kennametal Inc. (NYSE:KMT) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,683,485 shares of the industrial products company’s stock after purchasing an additional 100,905 shares during the period. Dimensional Fund Advisors LP owned 5.95% of Kennametal worth $110,248,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Burgundy Asset Management Ltd. boosted its position in shares of Kennametal by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 4,910,370 shares of the industrial products company’s stock worth $122,465,000 after acquiring an additional 58,097 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Kennametal by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock worth $109,371,000 after acquiring an additional 305,542 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Kennametal by 1.6% in the second quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock worth $77,640,000 after acquiring an additional 50,622 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Kennametal by 20.3% in the second quarter. American Century Companies Inc. now owns 1,903,714 shares of the industrial products company’s stock worth $44,813,000 after acquiring an additional 321,876 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Kennametal by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 1,270,285 shares of the industrial products company’s stock worth $29,903,000 after acquiring an additional 48,638 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KMT. Loop Capital raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Barclays raised their target price on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.17.

Kennametal Trading Down 0.2 %

NYSE KMT opened at $25.66 on Tuesday. Kennametal Inc. has a one year low of $22.08 and a one year high of $27.04. The company’s 50 day moving average price is $25.11 and its 200 day moving average price is $24.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 2.62 and a beta of 1.65.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. Kennametal’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. On average, sell-side analysts predict that Kennametal Inc. will post 1.51 EPS for the current year.

Kennametal Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, August 13th. Kennametal’s payout ratio is currently 59.26%.

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.