Savant Capital LLC Takes Position in Kennametal Inc. (NYSE:KMT)

Savant Capital LLC acquired a new stake in Kennametal Inc. (NYSE:KMT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,391 shares of the industrial products company’s stock, valued at approximately $456,000.

Several other large investors have also made changes to their positions in KMT. International Assets Investment Management LLC purchased a new position in shares of Kennametal in the fourth quarter valued at about $602,000. Russell Investments Group Ltd. lifted its position in shares of Kennametal by 16.9% in the fourth quarter. Russell Investments Group Ltd. now owns 48,255 shares of the industrial products company’s stock valued at $1,245,000 after acquiring an additional 6,962 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Kennametal by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,214,902 shares of the industrial products company’s stock valued at $31,332,000 after acquiring an additional 34,880 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kennametal by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,416,981 shares of the industrial products company’s stock valued at $113,914,000 after acquiring an additional 38,358 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Kennametal in the fourth quarter valued at about $15,400,000.

Kennametal Trading Up 0.7 %

Shares of KMT stock opened at $24.90 on Friday. Kennametal Inc. has a 1 year low of $22.08 and a 1 year high of $27.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17. The stock’s 50 day simple moving average is $24.78 and its two-hundred day simple moving average is $24.62. The company has a market cap of $1.96 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 2.57 and a beta of 1.65.

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

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.21%. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KMT. Barclays boosted their target price on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Finally, Loop Capital boosted their target price on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kennametal presently 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.