Kennametal Inc. (NYSE:KMT) Shares Purchased by Quest Partners LLC

Quest Partners LLC lifted its holdings in Kennametal Inc. (NYSE:KMT) by 2,429.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,929 shares of the industrial products company’s stock after purchasing an additional 45,074 shares during the quarter. Quest Partners LLC owned about 0.06% of Kennametal worth $1,217,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KMT. Brandes Investment Partners LP boosted its position in shares of Kennametal by 35.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock worth $54,798,000 after purchasing an additional 606,477 shares in the last quarter. American Century Companies Inc. lifted its position in Kennametal by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,903,714 shares of the industrial products company’s stock worth $44,813,000 after acquiring an additional 321,876 shares during the period. Interval Partners LP acquired a new stake in Kennametal during the 2nd quarter worth about $5,598,000. International Assets Investment Management LLC lifted its position in Kennametal by 1,235.5% during the 3rd quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company’s stock worth $3,284,000 after acquiring an additional 117,162 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Kennametal by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock worth $110,248,000 after acquiring an additional 100,905 shares during the period.

Kennametal Price Performance

Shares of Kennametal stock opened at $27.97 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a twelve month low of $22.50 and a twelve month high of $32.18. The business has a 50-day moving average price of $26.26 and a 200 day moving average price of $25.28. The firm has a market cap of $2.17 billion, a PE ratio of 21.85, a P/E/G ratio of 2.39 and a beta of 1.64.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. During the same quarter in the previous year, the business earned $0.41 EPS. Kennametal’s revenue for the quarter was down 2.2% compared to the same quarter last year. Sell-side analysts predict that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.86%. Kennametal’s dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Loop Capital lifted their price target on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Barclays lifted their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

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.