237,819 Shares in Kennametal Inc. (NYSE:KMT) Purchased by Interval Partners LP

Interval Partners LP acquired a new position in Kennametal Inc. (NYSE:KMT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 237,819 shares of the industrial products company’s stock, valued at approximately $5,598,000. Interval Partners LP owned 0.30% of Kennametal as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd acquired a new stake in Kennametal in the first quarter worth about $534,000. Wellington Management Group LLP grew its position in shares of Kennametal by 7.8% during the 4th quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock worth $109,371,000 after buying an additional 305,542 shares during the period. Azarias Capital Management L.P. acquired a new position in shares of Kennametal during the 1st quarter worth about $4,795,000. Hsbc Holdings PLC grew its position in shares of Kennametal by 188.0% during the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock worth $2,167,000 after buying an additional 54,882 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Kennametal by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock worth $48,292,000 after buying an additional 20,634 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KMT shares. 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. Loop Capital boosted their price objective on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Finally, StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Saturday. Two equities 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.17.

Kennametal Trading Down 0.2 %

NYSE KMT opened at $25.66 on Tuesday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 2.62 and a beta of 1.65. The stock’s 50 day moving average price is $25.11 and its two-hundred day moving average price is $24.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41. Kennametal Inc. has a 52 week low of $22.08 and a 52 week high of $27.04.

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

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Tuesday, August 13th. Kennametal’s dividend payout ratio is currently 59.26%.

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.