Legato Capital Management LLC bought a new stake in Kennametal Inc. (NYSE:KMT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 38,212 shares of the industrial products company's stock, valued at approximately $900,000.
Other institutional investors also recently made changes to their positions in the company. Azarias Capital Management L.P. boosted its stake in shares of Kennametal by 34.9% during the 2nd quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company's stock worth $6,106,000 after acquiring an additional 67,139 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Kennametal by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,270,285 shares of the industrial products company's stock valued at $29,903,000 after acquiring an additional 48,638 shares during the last quarter. CWM LLC lifted its holdings in shares of Kennametal by 46.7% in the second quarter. CWM LLC now owns 3,049 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 970 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Kennametal during the 2nd quarter worth approximately $482,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Kennametal by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,385 shares of the industrial products company's stock valued at $1,058,000 after buying an additional 2,519 shares during the last quarter.
Analyst Ratings Changes
A number of analysts recently commented on the company. StockNews.com raised Kennametal from a "hold" rating to a "buy" rating in a research note on Tuesday, August 13th. Loop Capital lifted their price target on shares of Kennametal from $22.00 to $24.00 and gave the stock a "hold" rating in a report on Thursday, August 22nd. Finally, 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $24.17.
Get Our Latest Research Report on Kennametal
Kennametal Trading Down 0.8 %
KMT stock traded down $0.20 during midday trading on Tuesday, reaching $25.70. 643,605 shares of the company's stock traded hands, compared to its average volume of 669,975. Kennametal Inc. has a fifty-two week low of $22.08 and a fifty-two week high of $27.05. The business has a 50-day moving average price of $24.33 and a two-hundred day moving average price of $24.55. The company has a market capitalization of $2.02 billion, a P/E ratio of 19.07, a PEG ratio of 2.37 and a beta of 1.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.42 and a quick ratio of 1.09.
Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results 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. The company had revenue of $543.31 million during the quarter, compared to the consensus estimate of $532.72 million. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The company's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. Equities research analysts forecast that Kennametal Inc. will post 1.45 EPS for the current fiscal year.
Kennametal Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.11%. Kennametal's dividend payout ratio is currently 59.26%.
Insider Transactions at Kennametal
In other Kennametal news, CEO Sanjay Chowbey bought 5,000 shares of the company's stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $24.28 per share, with a total value of $121,400.00. Following the completion of the transaction, the chief executive officer now owns 49,270 shares in the company, valued at $1,196,275.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.61% of the company's stock.
Kennametal Profile
(
Free Report)
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.
Further Reading
Before you consider Kennametal, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kennametal wasn't on the list.
While Kennametal currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
