BNP Paribas Financial Markets Decreases Stock Holdings in Kennametal Inc. (NYSE:KMT)

BNP Paribas Financial Markets cut its holdings in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 49.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.

A number of other large investors have also made changes to their positions in KMT. Blue Trust Inc. increased its position in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 716 shares during the period. Headlands Technologies LLC increased its position in shares of Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 1,444 shares during the period. Sterling Capital Management LLC increased its position in shares of Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 2,181 shares during the period. KBC Group NV increased its position in shares of Kennametal by 50.3% in the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 1,122 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Kennametal by 10.5% in the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 898 shares during the period.

Kennametal Price Performance

Shares of KMT stock traded down $0.26 during mid-day trading on Monday, hitting $21.03. 753,732 shares of the stock were exchanged, compared to its average volume of 881,741. The firm has a fifty day moving average of $20.24 and a 200 day moving average of $23.08. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The company has a market cap of $1.60 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39.

Kennametal (NYSE:KMT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The business had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same period in the prior year, the company posted $0.30 EPS. The company's revenue for the quarter was down 5.7% on a year-over-year basis. Research analysts anticipate that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley upped their price target on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Barclays upped their price target on shares of Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised shares of Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $25.80.

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.