AQR Capital Management LLC Raises Stake in Kennametal Inc. (NYSE:KMT)

AQR Capital Management LLC lifted its stake in shares of Kennametal Inc. (NYSE:KMT) by 37.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 189,435 shares of the industrial products company’s stock after purchasing an additional 51,335 shares during the quarter. AQR Capital Management LLC owned about 0.24% of Kennametal worth $4,450,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new position in Kennametal during the second quarter worth about $28,000. Headlands Technologies LLC acquired a new stake in shares of Kennametal in the 1st quarter worth approximately $32,000. Quest Partners LLC purchased a new position in Kennametal in the 2nd quarter valued at approximately $44,000. EntryPoint Capital LLC raised its holdings in Kennametal by 2,552.0% during the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 2,603 shares during the last quarter. Finally, CWM LLC boosted its position in Kennametal by 46.7% during the second quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 970 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KMT. Barclays raised their price target on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Loop Capital upped their price target on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $24.17.

Kennametal Trading Up 0.8 %

Shares of KMT stock opened at $25.37 on Friday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.71 and a beta of 1.65. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $25.24 and a 200 day moving average price of $24.72. Kennametal Inc. has a twelve month low of $22.08 and a twelve month high of $27.04.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating 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 business had revenue of $543.31 million during the quarter, compared to analyst estimates of $532.72 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The company’s revenue was down 1.3% on a year-over-year basis. Research analysts forecast that Kennametal Inc. will post 1.51 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, August 13th. Kennametal’s dividend payout ratio is currently 59.26%.

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.