MQS Management LLC Makes New $437,000 Investment in Kennametal Inc. (NYSE:KMT)

MQS Management LLC bought a new stake in shares of Kennametal Inc. (NYSE:KMT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,861 shares of the industrial products company’s stock, valued at approximately $437,000.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd lifted its stake in Kennametal by 14.4% in the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 472 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Kennametal by 0.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock worth $1,730,000 after purchasing an additional 610 shares during the period. Quarry LP boosted its stake in shares of Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 704 shares in the last quarter. ProShare Advisors LLC increased its holdings in Kennametal by 6.2% during the first quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock valued at $401,000 after buying an additional 945 shares during the period. Finally, CWM LLC increased its holdings in Kennametal by 46.7% during the second quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock valued at $72,000 after buying an additional 970 shares during the period.

Kennametal Price Performance

Shares of NYSE KMT opened at $29.36 on Thursday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. Kennametal Inc. has a 52 week low of $22.50 and a 52 week high of $32.18. The firm has a 50-day simple moving average of $25.94 and a 200-day simple moving average of $25.15. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million for the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. Kennametal’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, equities analysts predict that Kennametal Inc. will post 1.47 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

KMT has been the topic of a number of recent research reports. Barclays raised their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Loop Capital lifted their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, Kennametal has a consensus rating of “Hold” and an average price target of $24.60.

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.