Easterly Investment Partners LLC Has $802,000 Position in Kennametal Inc. (NYSE:KMT)

Easterly Investment Partners LLC raised its holdings in shares of Kennametal Inc. (NYSE:KMT) by 39.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,172 shares of the industrial products company’s stock after purchasing an additional 9,166 shares during the quarter. Easterly Investment Partners LLC’s holdings in Kennametal were worth $802,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Burgundy Asset Management Ltd. increased its position in shares of Kennametal by 3.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 4,852,273 shares of the industrial products company’s stock worth $125,140,000 after acquiring an additional 173,023 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Kennametal by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,416,981 shares of the industrial products company’s stock worth $113,914,000 after purchasing an additional 38,358 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Kennametal by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock valued at $109,371,000 after purchasing an additional 305,542 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Kennametal by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,214,902 shares of the industrial products company’s stock valued at $31,332,000 after buying an additional 34,880 shares during the last quarter. Finally, Brandes Investment Partners LP grew its holdings in Kennametal by 1,186.7% during the fourth quarter. Brandes Investment Partners LP now owns 890,034 shares of the industrial products company’s stock worth $22,954,000 after buying an additional 820,864 shares in the last quarter.

Insider Buying and Selling

In other Kennametal news, CEO Sanjay Chowbey bought 5,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $24.28 per share, for a total transaction of $121,400.00. Following the completion of the transaction, the chief executive officer now directly owns 49,270 shares of the company’s stock, valued at $1,196,275.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.79% of the stock is currently owned by insiders.

Kennametal Stock Performance

Shares of NYSE:KMT traded up $0.16 during midday trading on Wednesday, reaching $22.70. The company had a trading volume of 107,915 shares, compared to its average volume of 634,341. The stock has a market cap of $1.79 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.16 and a beta of 1.66. The company’s 50 day moving average price is $24.55 and its 200 day moving average price is $24.57. The company has a current ratio of 2.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46. Kennametal Inc. has a 52-week low of $22.08 and a 52-week high of $30.60.

Kennametal (NYSE:KMT) last released its earnings results 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). Kennametal had a net margin of 5.29% and a return on equity of 9.35%. The company had revenue of $515.80 million during the quarter, compared to analysts’ expectations of $518.50 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.52%. Kennametal’s payout ratio is 59.26%.

Analyst Ratings Changes

KMT has been the topic of several recent analyst reports. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Loop Capital dropped their price target on shares of Kennametal from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, June 21st. Finally, Barclays upped their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Kennametal has a consensus rating of “Hold” and an average target price of $23.83.

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.