26,511 Shares in Kennametal Inc. (NYSE:KMT) Acquired by Sei Investments Co.

Sei Investments Co. acquired a new stake in Kennametal Inc. (NYSE:KMT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,511 shares of the industrial products company’s stock, valued at approximately $624,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd acquired a new position in shares of Kennametal in the 1st quarter valued at $534,000. Wellington Management Group LLP boosted its holdings in Kennametal by 7.8% during the fourth quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock worth $109,371,000 after buying an additional 305,542 shares during the last quarter. Azarias Capital Management L.P. bought a new position in Kennametal during the first quarter worth about $4,795,000. BNP Paribas Financial Markets grew its position in shares of Kennametal by 85.3% during the 1st quarter. BNP Paribas Financial Markets now owns 87,340 shares of the industrial products company’s stock worth $2,178,000 after buying an additional 40,193 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Kennametal in the 1st quarter valued at about $32,000.

Kennametal Stock Performance

Shares of KMT opened at $24.83 on Wednesday. The firm has a market cap of $1.95 billion, a P/E ratio of 18.39, a PEG ratio of 2.71 and a beta of 1.65. Kennametal Inc. has a twelve month low of $22.08 and a twelve month high of $27.04. 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’s 50 day moving average price is $25.21 and its two-hundred day moving average price is $24.73.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $543.31 million for the quarter, compared to analysts’ expectations of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. On average, analysts forecast that Kennametal Inc. will post 1.51 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors 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 dividend on an annualized basis and a dividend yield of 3.22%. Kennametal’s payout ratio is presently 59.26%.

Wall Street Analyst Weigh In

KMT has been the subject of a number of analyst reports. Loop Capital boosted their price objective on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. 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 report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Kennametal presently has a consensus rating of “Hold” and an average price target 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.