Azarias Capital Management L.P. Takes $4.80 Million Position in Kennametal Inc. (NYSE:KMT)

Azarias Capital Management L.P. acquired a new stake in shares of Kennametal Inc. (NYSE:KMT) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 192,260 shares of the industrial products company’s stock, valued at approximately $4,795,000. Kennametal makes up about 2.0% of Azarias Capital Management L.P.’s holdings, making the stock its 22nd largest position. Azarias Capital Management L.P. owned 0.24% of Kennametal at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KMT. Federated Hermes Inc. lifted its holdings in Kennametal by 2.9% in the 3rd quarter. Federated Hermes Inc. now owns 18,750 shares of the industrial products company’s stock worth $466,000 after purchasing an additional 521 shares in the last quarter. Signaturefd LLC lifted its holdings in Kennametal by 119.6% in the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 603 shares in the last quarter. CWM LLC lifted its holdings in Kennametal by 191.1% in the 4th quarter. CWM LLC now owns 1,767 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 1,160 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Kennametal by 4.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,768 shares of the industrial products company’s stock worth $948,000 after purchasing an additional 1,437 shares in the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in Kennametal by 0.3% in the 4th quarter. Heartland Advisors Inc. now owns 631,878 shares of the industrial products company’s stock worth $16,296,000 after purchasing an additional 1,726 shares in the last quarter.

Analysts Set New Price Targets

KMT has been the topic of several recent research reports. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a report on Monday. Barclays upped their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Finally, Loop Capital decreased their price objective on Kennametal from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, Kennametal presently has an average rating of “Hold” and a consensus target price of $23.83.

Insider Buying and Selling at Kennametal

In other Kennametal news, CEO Sanjay Chowbey purchased 5,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $24.28 per share, for a total transaction of $121,400.00. Following the completion of the purchase, the chief executive officer now owns 49,270 shares in the company, valued at approximately $1,196,275.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.79% of the stock is currently owned by company insiders.

Kennametal Stock Up 0.2 %

Shares of KMT traded up $0.04 during midday trading on Thursday, reaching $22.97. 299,699 shares of the stock were exchanged, compared to its average volume of 625,993. Kennametal Inc. has a 52 week low of $22.08 and a 52 week high of $30.60. The company has a current ratio of 2.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $24.62 and its two-hundred day moving average is $24.65. The company has a market capitalization of $1.81 billion, a P/E ratio of 17.01, a PEG ratio of 2.15 and a beta of 1.66.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The company had revenue of $515.80 million for the quarter, compared to analysts’ expectations of $518.50 million. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. On average, sell-side analysts anticipate that Kennametal Inc. will post 1.45 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Monday, May 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.