Kennametal Inc. (NYSE:KMT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in Kennametal Inc. (NYSE:KMT) by 50.1% in the second quarter, Holdings Channel.com reports. The fund owned 65,304 shares of the industrial products company’s stock after selling 65,674 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Kennametal were worth $1,537,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new position in shares of Kennametal in the 2nd quarter valued at about $28,000. Headlands Technologies LLC acquired a new position in Kennametal during the first quarter worth about $32,000. Quest Partners LLC purchased a new position in Kennametal in the second quarter valued at about $44,000. EntryPoint Capital LLC lifted its position in shares of Kennametal by 2,552.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 2,603 shares during the period. Finally, CWM LLC boosted its stake in shares of Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 970 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Loop Capital lifted their price objective on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Barclays increased their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Kennametal currently has a consensus rating of “Hold” and an average target price of $24.17.

Kennametal Stock Performance

Kennametal stock opened at $25.15 on Friday. 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 fifty-two week low of $22.08 and a fifty-two week high of $27.04. The stock has a fifty day moving average of $25.25 and a two-hundred day moving average of $24.70. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.71 and a beta of 1.65.

Kennametal (NYSE:KMT) last posted 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 during 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 firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. On average, analysts anticipate that Kennametal Inc. will post 1.51 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors 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 3.18%. The ex-dividend date of this dividend was Tuesday, August 13th. Kennametal’s payout ratio is 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.