Kennametal Inc. (NYSE:KMT) Shares Bought by Brandes Investment Partners LP

Brandes Investment Partners LP lifted its position in shares of Kennametal Inc. (NYSE:KMT) by 35.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,332,993 shares of the industrial products company’s stock after buying an additional 606,477 shares during the quarter. Brandes Investment Partners LP owned approximately 2.97% of Kennametal worth $54,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Texas Permanent School Fund Corp grew its position in shares of Kennametal by 0.9% in the first quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock valued at $1,730,000 after purchasing an additional 610 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Kennametal by 1.5% during the first quarter. Illinois Municipal Retirement Fund now owns 45,515 shares of the industrial products company’s stock valued at $1,135,000 after acquiring an additional 684 shares during the last quarter. Quarry LP increased its position in Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 704 shares in the last quarter. ProShare Advisors LLC raised its stake in Kennametal by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 945 shares during the last quarter. Finally, CWM LLC lifted its holdings in 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 purchasing an additional 970 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KMT shares. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Saturday, September 21st. Barclays lifted their target price on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Loop Capital raised their price objective on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.17.

Kennametal Stock Up 1.1 %

KMT opened at $26.40 on Monday. Kennametal Inc. has a 1 year low of $22.08 and a 1 year high of $27.04. The firm has a 50 day moving average price of $25.19 and a 200 day moving average price of $24.67. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41. The company has a market cap of $2.08 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) 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 analyst estimates of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The business’s quarterly 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. Sell-side 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 paid a $0.20 dividend. 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 3.03%. Kennametal’s dividend payout ratio (DPR) is currently 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.