Ieq Capital LLC Purchases Shares of 14,436 Kennametal Inc. $KMT

Ieq Capital LLC purchased a new stake in shares of Kennametal Inc. (NYSE:KMT) during the first quarter, HoldingsChannel reports. The fund purchased 14,436 shares of the industrial products company’s stock, valued at approximately $307,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in Kennametal by 557.1% during the first quarter. Mackenzie Financial Corp now owns 77,877 shares of the industrial products company’s stock valued at $1,659,000 after acquiring an additional 66,025 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Kennametal by 17.8% during the first quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 2,000 shares in the last quarter. Nuveen LLC purchased a new position in shares of Kennametal during the first quarter valued at about $3,949,000. GAMMA Investing LLC grew its position in shares of Kennametal by 699.1% during the first quarter. GAMMA Investing LLC now owns 11,651 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 10,193 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Kennametal by 8.4% during the first quarter. Northern Trust Corp now owns 1,077,284 shares of the industrial products company’s stock valued at $22,946,000 after purchasing an additional 83,568 shares in the last quarter.

Kennametal Stock Up 0.6%

Shares of NYSE:KMT opened at $21.96 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 3.84 and a beta of 1.44. Kennametal Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The company has a 50-day moving average price of $22.99 and a 200 day moving average price of $21.72.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). The firm had revenue of $516.45 million during the quarter, compared to the consensus estimate of $527.52 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. As a group, equities research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.80 annualized dividend and a yield of 3.6%. Kennametal’s dividend payout ratio (DPR) is presently 66.67%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays raised their price objective on Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. UBS Group upgraded Kennametal from a “sell” rating to a “neutral” rating and raised their price objective for the company from $19.00 to $21.00 in a research report on Friday, August 15th. Morgan Stanley raised their price objective on Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. cut their price objective on Kennametal from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $24.00 price target (up previously from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $24.00.

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.