Hsbc Holdings PLC Decreases Stock Holdings in Kennametal Inc. (NYSE:KMT)

Hsbc Holdings PLC decreased its position in Kennametal Inc. (NYSE:KMT) by 34.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,289 shares of the industrial products company’s stock after selling 32,554 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Kennametal worth $1,458,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of KMT. Texas Permanent School Fund Corp grew its stake in Kennametal by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock valued at $1,730,000 after acquiring an additional 610 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in Kennametal by 1.5% during the first quarter. Illinois Municipal Retirement Fund now owns 45,515 shares of the industrial products company’s stock valued at $1,135,000 after acquiring an additional 684 shares in the last quarter. ProShare Advisors LLC grew its stake in Kennametal by 6.2% during the first quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 945 shares in the last quarter. CWM LLC grew its stake in Kennametal by 46.7% during the second quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 970 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Kennametal in the 1st quarter worth $32,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Saturday, September 21st. Barclays raised their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Loop Capital raised their target price on shares of 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 given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.17.

Kennametal Stock Performance

NYSE:KMT opened at $26.40 on Friday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65. Kennametal Inc. has a 1-year low of $22.08 and a 1-year high of $27.04. The firm’s fifty day moving average price is $25.19 and its 200 day moving average price is $24.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. The company had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. On average, sell-side analysts expect that Kennametal Inc. will post 1.51 EPS for the current year.

Kennametal Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Tuesday, August 13th. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.

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.