Sanctuary Advisors LLC Acquires New Position in Kennametal Inc. (NYSE:KMT)

Sanctuary Advisors LLC acquired a new stake in Kennametal Inc. (NYSE:KMT) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,775 shares of the industrial products company’s stock, valued at approximately $451,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. raised its stake in Kennametal by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock valued at $117,175,000 after acquiring an additional 67,327 shares during the period. Dimensional Fund Advisors LP raised its stake in Kennametal by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock valued at $110,248,000 after acquiring an additional 100,905 shares during the period. Wellington Management Group LLP raised its stake in 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 valued at $109,371,000 after acquiring an additional 305,542 shares during the period. Victory Capital Management Inc. raised its stake in Kennametal by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock valued at $77,640,000 after acquiring an additional 50,622 shares during the period. Finally, Brandes Investment Partners LP raised its stake in Kennametal by 35.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after acquiring an additional 606,477 shares during the period.

Kennametal Trading Up 2.8 %

Shares of KMT opened at $26.05 on Thursday. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $25.30 and its 200-day moving average price is $24.76. The stock has a market cap of $2.05 billion, a PE ratio of 19.30, a P/E/G ratio of 2.65 and a beta of 1.65. Kennametal Inc. has a twelve month low of $22.08 and a twelve month high of $27.04.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share 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 analysts’ expectations of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. Kennametal’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. On average, equities analysts forecast that Kennametal Inc. will post 1.51 EPS for the current fiscal year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Tuesday, August 13th. Kennametal’s dividend payout ratio (DPR) is 59.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KMT shares. Loop Capital boosted their price objective on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Barclays upped their price target on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.00.

Kennametal Company 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.