Kennametal Inc. (NYSE:KMT) Shares Bought by Inspire Investing LLC

Inspire Investing LLC boosted its holdings in shares of Kennametal Inc. (NYSE:KMT) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,770 shares of the industrial products company’s stock after purchasing an additional 2,374 shares during the period. Inspire Investing LLC’s holdings in Kennametal were worth $395,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in KMT. Norges Bank bought a new position in shares of Kennametal in the fourth quarter valued at $15,400,000. American Century Companies Inc. grew its holdings in shares of Kennametal by 20.3% in 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 acquiring an additional 321,876 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Kennametal by 7.8% in 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 acquiring an additional 305,542 shares during the last quarter. Azarias Capital Management L.P. acquired a new stake in shares of Kennametal during the first quarter worth $4,795,000. Finally, Burgundy Asset Management Ltd. lifted its holdings in shares of Kennametal by 3.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 4,852,273 shares of the industrial products company’s stock valued at $125,140,000 after purchasing an additional 173,023 shares during the last quarter.

Kennametal Trading Down 1.7 %

Shares of NYSE KMT opened at $25.72 on Friday. 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 one year low of $22.08 and a one year high of $27.04. The business has a 50-day moving average price of $25.08 and a two-hundred day moving average price of $24.65. The firm has a market capitalization of $2.02 billion, a PE ratio of 19.05, a PEG ratio of 2.62 and a beta of 1.65.

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

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. Kennametal’s dividend payout ratio is 59.26%.

Wall Street Analysts Forecast Growth

KMT has been the topic of a number of analyst reports. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays raised their target price 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 boosted their price target on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.17.

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.