Klein Pavlis & Peasley Financial Inc. Has $896,000 Stake in Kennametal Inc. $KMT

Klein Pavlis & Peasley Financial Inc. reduced its holdings in Kennametal Inc. (NYSE:KMT) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,004 shares of the industrial products company’s stock after selling 959 shares during the quarter. Klein Pavlis & Peasley Financial Inc. owned 0.05% of Kennametal worth $896,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of KMT. Curat Global LLC acquired a new position in shares of Kennametal in the 1st quarter valued at approximately $35,000. Parallel Advisors LLC lifted its stake in Kennametal by 107.6% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock valued at $42,000 after buying an additional 1,015 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Kennametal by 93.4% in the first quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,036 shares during the period. GAMMA Investing LLC increased its position in shares of Kennametal by 293.6% during the second quarter. GAMMA Investing LLC now owns 2,153 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,606 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Kennametal during the first quarter worth $52,000.

Kennametal Stock Performance

Shares of NYSE KMT opened at $20.94 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.19 and a current ratio of 2.46. The stock has a 50 day moving average price of $22.02 and a 200 day moving average price of $21.62. The stock has a market capitalization of $1.59 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 3.69 and a beta of 1.44. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18.

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

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Kennametal’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

Several research firms recently commented on KMT. Zacks Research raised shares of Kennametal to a “strong sell” rating in a research report on Monday, August 11th. UBS Group raised 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 note on Friday, August 15th. JPMorgan Chase & Co. reduced their price objective on Kennametal from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Finally, Loop Capital reissued a “hold” rating and issued a $24.00 target price (up previously from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $24.00.

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.