Sei Investments Co. Makes New Investment in Kennametal Inc. (NYSE:KMT)

Sei Investments Co. purchased a new stake in shares of Kennametal Inc. (NYSE:KMT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,511 shares of the industrial products company’s stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new position in Kennametal during the second quarter valued at about $28,000. Headlands Technologies LLC acquired a new stake in shares of Kennametal during the 1st quarter valued at about $32,000. Quest Partners LLC bought a new stake in Kennametal in the second quarter valued at about $44,000. EntryPoint Capital LLC increased its stake in Kennametal by 2,552.0% in the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 2,603 shares during the period. Finally, CWM LLC raised its position in Kennametal by 46.7% in 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Loop Capital upped their price target on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.17.

Kennametal Stock Down 1.4 %

NYSE KMT opened at $24.83 on Wednesday. The stock’s 50 day simple moving average is $25.21 and its 200 day simple moving average is $24.73. Kennametal Inc. has a one year low of $22.08 and a one year high of $27.04. The firm has a market cap of $1.95 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17.

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

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.22%. The ex-dividend date was Tuesday, August 13th. Kennametal’s payout ratio is presently 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.