Barrow Hanley Mewhinney & Strauss LLC Increases Stock Holdings in Kennametal Inc. (NYSE:KMT)

Barrow Hanley Mewhinney & Strauss LLC grew its position in Kennametal Inc. (NYSE:KMT) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,051,503 shares of the industrial products company’s stock after buying an additional 20,634 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 2.61% of Kennametal worth $48,292,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in shares of Kennametal in the second quarter valued at $28,000. Headlands Technologies LLC purchased a new stake in Kennametal during the 1st quarter worth about $32,000. Quest Partners LLC purchased a new stake in Kennametal during the 2nd quarter worth about $44,000. EntryPoint Capital LLC increased its position in Kennametal by 2,552.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 2,603 shares in the last quarter. Finally, CWM LLC increased its position in 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 purchasing an additional 970 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays lifted their price objective 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 Saturday. Finally, Loop Capital lifted their price objective on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kennametal presently has an average rating of “Hold” and an average target price of $24.17.

Kennametal Stock Down 1.7 %

Shares of NYSE:KMT opened at $25.72 on Friday. The stock’s 50-day moving average price is $25.08 and its two-hundred day moving average price is $24.65. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. Kennametal Inc. has a 12-month low of $22.08 and a 12-month high of $27.04. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.62 and a beta of 1.65.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. During the same period last year, the company earned $0.51 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, research analysts forecast that Kennametal Inc. will post 1.51 EPS for the current year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend 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.