Kennametal Inc. (NYSE:KMT) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 49.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,002 shares of the industrial products company's stock after selling 44,791 shares during the period. BNP Paribas Financial Markets owned 0.06% of Kennametal worth $1,105,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Freestone Grove Partners LP purchased a new position in shares of Kennametal in the 4th quarter worth $335,000. Northern Trust Corp grew its stake in shares of Kennametal by 6.9% in the 4th quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company's stock worth $23,869,000 after buying an additional 63,770 shares in the last quarter. Aquatic Capital Management LLC grew its stake in shares of Kennametal by 51.2% in the 4th quarter. Aquatic Capital Management LLC now owns 67,285 shares of the industrial products company's stock worth $1,616,000 after buying an additional 22,785 shares in the last quarter. HBK Investments L P purchased a new position in shares of Kennametal in the 4th quarter worth $955,000. Finally, Voya Investment Management LLC grew its stake in shares of Kennametal by 13.0% in the 4th quarter. Voya Investment Management LLC now owns 191,950 shares of the industrial products company's stock worth $4,611,000 after buying an additional 22,092 shares in the last quarter.

Kennametal Stock Down 1.2%

Shares of NYSE:KMT traded down $0.26 during trading hours on Friday, hitting $21.03. The company's stock had a trading volume of 753,732 shares, compared to its average volume of 880,732. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 3.69 and a beta of 1.39. The firm's fifty day moving average price is $20.25 and its 200 day moving average price is $23.24.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The company had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. During the same quarter last year, the company earned $0.30 earnings per share. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, research analysts expect that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.80%. Kennametal's dividend payout ratio (DPR) is presently 57.55%.

Analysts Set New Price Targets

KMT has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Barclays lifted their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen raised shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kennametal has an average rating of "Hold" and a consensus target price of $25.80.

Kennametal 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.