Kennametal Inc. (NYSE:KMT) Holdings Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Kennametal Inc. (NYSE:KMT) by 2.2% during the second quarter, Holdings Channel.com reports. The firm owned 4,683,485 shares of the industrial products company’s stock after acquiring an additional 100,905 shares during the period. Dimensional Fund Advisors LP owned 0.06% of Kennametal worth $110,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Kennametal during the first quarter valued at about $32,000. Quest Partners LLC bought a new stake in shares of Kennametal during the second quarter valued at about $44,000. EntryPoint Capital LLC raised its stake in shares of Kennametal by 2,552.0% during the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 2,603 shares in the last quarter. CWM LLC raised its stake in shares of Kennametal by 46.7% during 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. Finally, Covestor Ltd raised its stake in shares of Kennametal by 77.3% during the first quarter. Covestor Ltd now owns 3,060 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 1,334 shares in the last quarter.

Kennametal Stock Performance

Shares of NYSE KMT opened at $25.66 on Tuesday. 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 firm has a market cap of $2.02 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 2.62 and a beta of 1.65. The business’s 50-day simple moving average is $25.11 and its 200-day simple moving average is $24.64. Kennametal Inc. has a 52 week low of $22.08 and a 52 week high of $27.04.

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

Kennametal Dividend Announcement

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

Analysts Set New Price Targets

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