Squarepoint Ops LLC Has $2.09 Million Stock Holdings in Kennametal Inc. (NYSE:KMT)

Squarepoint Ops LLC raised its stake in Kennametal Inc. (NYSE:KMT) by 21.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,770 shares of the industrial products company’s stock after purchasing an additional 15,453 shares during the quarter. Squarepoint Ops LLC owned approximately 0.11% of Kennametal worth $2,090,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd bought a new position in shares of Kennametal in the first quarter valued at $534,000. Wellington Management Group LLP grew its position in shares of Kennametal by 7.8% in the 4th quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock valued at $109,371,000 after acquiring an additional 305,542 shares during the period. Azarias Capital Management L.P. acquired a new position in shares of Kennametal during the 1st quarter worth about $4,795,000. Hsbc Holdings PLC raised its holdings in shares of Kennametal by 188.0% in the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock valued at $2,167,000 after purchasing an additional 54,882 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Kennametal by 1.0% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock valued at $48,292,000 after purchasing an additional 20,634 shares during the last quarter.

Kennametal Price Performance

Shares of NYSE KMT opened at $25.15 on Friday. The firm has a market cap of $1.98 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65. The business’s 50 day moving average is $25.25 and its 200-day moving average is $24.70. 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 Inc. has a 1-year low of $22.08 and a 1-year high of $27.04.

Kennametal (NYSE:KMT) last posted 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. The firm had revenue of $543.31 million for the quarter, compared to analysts’ expectations of $532.72 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. Equities research analysts predict that Kennametal Inc. will post 1.51 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.18%. Kennametal’s dividend payout ratio is presently 59.26%.

Analyst Ratings Changes

A number of brokerages have weighed in on KMT. Loop Capital boosted their price target on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Barclays raised their price target on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Two research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.17.

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.