Kennametal Inc. (NYSE:KMT) Shares Acquired by Azarias Capital Management L.P.

Azarias Capital Management L.P. boosted its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 34.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 259,399 shares of the industrial products company's stock after acquiring an additional 67,139 shares during the quarter. Kennametal accounts for about 2.7% of Azarias Capital Management L.P.'s portfolio, making the stock its 17th biggest holding. Azarias Capital Management L.P. owned 0.33% of Kennametal worth $6,106,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KMT. International Assets Investment Management LLC purchased a new position in shares of Kennametal in the fourth quarter valued at approximately $602,000. Federated Hermes Inc. boosted its stake in Kennametal by 51.9% during the 4th quarter. Federated Hermes Inc. now owns 28,490 shares of the industrial products company's stock worth $735,000 after purchasing an additional 9,740 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Kennametal by 119.6% during the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company's stock worth $29,000 after buying an additional 603 shares in the last quarter. CWM LLC raised its position in shares of Kennametal by 191.1% in the fourth quarter. CWM LLC now owns 1,767 shares of the industrial products company's stock valued at $46,000 after buying an additional 1,160 shares during the last quarter. Finally, Duality Advisers LP purchased a new position in shares of Kennametal in the fourth quarter worth about $298,000.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays upped their price objective 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. 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. Finally, StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Tuesday, August 13th. Two investment 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 company currently has a consensus rating of "Hold" and an average price target of $24.17.

Kennametal Trading Up 0.1 %

Shares of Kennametal stock traded up $0.03 during mid-day trading on Monday, hitting $25.89. The stock had a trading volume of 846,081 shares, compared to its average volume of 670,135. The firm has a 50-day moving average of $24.33 and a two-hundred day moving average of $24.55. The firm has a market cap of $2.04 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 2.37 and a beta of 1.66. The company has a quick ratio of 1.09, a current ratio of 2.42 and a debt-to-equity ratio of 0.46. Kennametal Inc. has a 12-month low of $22.08 and a 12-month high of $27.05.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The company had revenue of $543.31 million during the quarter, compared to analyst estimates of $532.72 million. During the same period in the prior year, the business posted $0.51 earnings per share. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts forecast that Kennametal Inc. will post 1.45 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.09%. Kennametal's payout ratio is currently 59.26%.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey bought 5,000 shares of the company's stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $24.28 per share, for a total transaction of $121,400.00. Following the acquisition, the chief executive officer now owns 49,270 shares of the company's stock, valued at $1,196,275.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.61% of the stock is currently owned by insiders.

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.

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