Kennametal Inc. (NYSE:KMT) Holdings Raised by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. increased its stake in Kennametal Inc. (NYSE:KMT) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,977,697 shares of the industrial products company’s stock after purchasing an additional 67,327 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 6.33% of Kennametal worth $117,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of KMT. Dimensional Fund Advisors LP increased its position in shares of Kennametal by 2.2% in the second 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 in the last quarter. American Century Companies Inc. grew 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 purchasing an additional 321,876 shares in the last quarter. Quest Partners LLC acquired a new stake in Kennametal during the 2nd quarter valued at $44,000. Savant Capital LLC purchased a new stake in shares of Kennametal in the second quarter valued at $456,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Kennametal by 1.6% in the second quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock valued at $77,640,000 after purchasing an additional 50,622 shares in the last quarter.

Kennametal Stock Performance

Shares of KMT stock opened at $25.79 on Thursday. Kennametal Inc. has a fifty-two week low of $22.08 and a fifty-two week high of $27.04. The stock’s 50-day moving average is $25.00 and its two-hundred day moving average is $24.63. 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 firm has a market cap of $2.03 billion, a P/E ratio of 19.10, a PEG ratio of 2.62 and a beta of 1.65.

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

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Tuesday, August 13th. Kennametal’s payout ratio is presently 59.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on KMT shares. Loop Capital lifted their price target on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Barclays lifted their target price 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, StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.