Entropy Technologies LP Makes New Investment in Kennametal Inc. (NYSE:KMT)

Entropy Technologies LP bought a new position in shares of Kennametal Inc. (NYSE:KMT) during the third quarter, Holdings Channel reports. The fund bought 16,400 shares of the industrial products company’s stock, valued at approximately $425,000.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd lifted its position in Kennametal by 14.4% in the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock valued at $97,000 after buying an additional 472 shares during the last quarter. Quarry LP raised its position in Kennametal by 198.9% in 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 during the period. ProShare Advisors LLC raised its holdings in shares of Kennametal by 6.2% in the 1st 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. CWM LLC lifted its stake in Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 970 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,008 shares during the period.

Analyst Ratings Changes

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

Kennametal Trading Down 0.8 %

NYSE:KMT opened at $28.46 on Friday. The stock has a 50-day simple moving average of $26.11 and a 200-day simple moving average of $25.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. The stock has a market cap of $2.21 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.47 and a beta of 1.64. Kennametal Inc. has a 1 year low of $22.50 and a 1 year high of $32.18.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million during 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%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, analysts anticipate that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.81%. Kennametal’s dividend payout ratio is presently 62.50%.

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.