Kennametal Inc. (NYSE:KMT) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in Kennametal Inc. (NYSE:KMT) by 20.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,903,714 shares of the industrial products company’s stock after purchasing an additional 321,876 shares during the period. American Century Companies Inc. owned about 2.42% of Kennametal worth $44,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Kennametal during the 1st quarter worth about $32,000. Quest Partners LLC purchased a new stake in shares of Kennametal during the 2nd quarter worth approximately $44,000. EntryPoint Capital LLC boosted its holdings in shares of Kennametal by 2,552.0% in the 1st quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after buying an additional 2,603 shares in the last quarter. CWM LLC grew its position in shares of Kennametal by 46.7% in the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock valued at $72,000 after buying an additional 970 shares during the last quarter. Finally, Covestor Ltd raised its stake in Kennametal by 77.3% during the 1st quarter. Covestor Ltd now owns 3,060 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 1,334 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KMT. Barclays lifted their target price on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Loop Capital boosted their price objective on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Kennametal has a consensus rating of “Hold” and an average price target of $24.17.

Kennametal Trading Up 1.6 %

Shares of KMT stock opened at $25.53 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.01 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.62 and a beta of 1.65. The business has a fifty day simple moving average of $24.83 and a 200-day simple moving average of $24.62. 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 data 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. The business had revenue of $543.31 million during the quarter, compared to analysts’ expectations of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. On average, analysts forecast that Kennametal Inc. will post 1.51 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Tuesday, August 13th. Kennametal’s dividend payout ratio (DPR) is 59.26%.

Kennametal 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.