Savvy Advisors Inc. Purchases Shares of 38,954 Kennametal Inc. $KMT

Savvy Advisors Inc. acquired a new position in Kennametal Inc. (NYSE:KMT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 38,954 shares of the industrial products company’s stock, valued at approximately $894,000. Savvy Advisors Inc. owned 0.05% of Kennametal at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in shares of Kennametal by 17.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 2,000 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Kennametal by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 385,294 shares of the industrial products company’s stock valued at $8,207,000 after purchasing an additional 8,351 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Kennametal by 219.5% during the first quarter. Envestnet Asset Management Inc. now owns 57,481 shares of the industrial products company’s stock valued at $1,224,000 after purchasing an additional 39,492 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Kennametal during the first quarter valued at approximately $52,000. Finally, Ballentine Partners LLC purchased a new stake in Kennametal in the first quarter worth $261,000.

Kennametal Price Performance

Shares of KMT opened at $22.27 on Friday. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The company has a market capitalization of $1.69 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 3.83 and a beta of 1.46. The firm has a 50 day moving average of $21.56 and a 200 day moving average of $21.85. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). The business had revenue of $516.45 million for the quarter, compared to analysts’ expectations of $527.52 million. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 earnings per share. As a group, equities research analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. Kennametal’s dividend payout ratio (DPR) is 66.67%.

Analyst Ratings Changes

KMT has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on Kennametal from $20.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, October 14th. UBS Group raised shares of Kennametal from a “sell” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $21.00 in a research report on Friday, August 15th. Zacks Research upgraded shares of Kennametal from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kennametal in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $24.00.

Kennametal Company 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.