Nisa Investment Advisors LLC Grows Holdings in Kennametal Inc. $KMT

Nisa Investment Advisors LLC grew its stake in Kennametal Inc. (NYSE:KMT) by 525.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 30,829 shares of the industrial products company’s stock after acquiring an additional 25,898 shares during the period. Nisa Investment Advisors LLC’s holdings in Kennametal were worth $708,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in KMT. Bridgeway Capital Management LLC purchased a new stake in shares of Kennametal in the 1st quarter valued at approximately $11,801,000. Cooper Haims Advisors LLC purchased a new stake in shares of Kennametal in the 1st quarter valued at approximately $7,453,000. Empowered Funds LLC purchased a new stake in shares of Kennametal in the 1st quarter valued at approximately $7,009,000. American Century Companies Inc. raised its stake in shares of Kennametal by 9.2% in the 1st quarter. American Century Companies Inc. now owns 2,778,368 shares of the industrial products company’s stock valued at $59,179,000 after acquiring an additional 234,395 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Kennametal in the 1st quarter valued at approximately $3,949,000.

Analyst Ratings Changes

KMT has been the topic of a number of research analyst reports. Zacks Research raised shares of Kennametal from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. UBS Group raised shares of Kennametal from a “sell” rating to a “neutral” rating and boosted their price target for the company from $19.00 to $21.00 in a research note on Friday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Kennametal from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kennametal in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $24.00.

Kennametal Trading Down 1.5%

Shares of Kennametal stock opened at $21.97 on Friday. The company has a fifty day simple moving average of $21.57 and a 200-day simple moving average of $21.89. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18. 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 stock has a market cap of $1.67 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 3.83 and a beta of 1.46.

Kennametal (NYSE:KMT) last issued 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 for the quarter, compared to analysts’ expectations of $527.52 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. On average, equities analysts forecast that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. Kennametal’s dividend payout ratio (DPR) is presently 66.67%.

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.