Federated Hermes Inc. Has $580,000 Position in Kennametal Inc. (NYSE:KMT)

Federated Hermes Inc. lowered its stake in Kennametal Inc. (NYSE:KMT) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,630 shares of the industrial products company’s stock after selling 1,107 shares during the period. Federated Hermes Inc.’s holdings in Kennametal were worth $580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMT. UniSuper Management Pty Ltd bought a new stake in shares of Kennametal in the 1st quarter valued at $534,000. Wellington Management Group LLP raised its holdings in 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 buying an additional 305,542 shares during the period. Azarias Capital Management L.P. bought a new stake in Kennametal in the 1st quarter valued at $4,795,000. Hsbc Holdings PLC boosted its position in shares of Kennametal by 188.0% during the fourth quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock worth $2,167,000 after buying 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 worth $2,178,000 after acquiring an additional 40,193 shares during the last quarter.

Kennametal Stock Down 0.2 %

KMT opened at $25.66 on Tuesday. Kennametal Inc. has a 1-year low of $22.08 and a 1-year high of $27.04. The stock has a market cap of $2.02 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.62 and a beta of 1.65. The stock’s fifty day simple moving average is $25.11 and its 200 day simple moving average is $24.64. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46.

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

Kennametal Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.12%. Kennametal’s payout ratio is 59.26%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KMT shares. Loop Capital boosted their price objective 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. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Barclays increased their price target 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 investment analysts have rated the stock with a sell rating, three have assigned 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 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.