D. E. Shaw & Co. Inc. Sells 126,241 Shares of Kennametal Inc. (NYSE:KMT)

D. E. Shaw & Co. Inc. reduced its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 92.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,621 shares of the industrial products company's stock after selling 126,241 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Kennametal were worth $231,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on KMT. Barclays upped their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Morgan Stanley upped their target price 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. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $25.80.

Kennametal Stock Performance

Shares of Kennametal stock traded down $0.31 during trading hours on Friday, reaching $21.55. 1,152,182 shares of the stock traded hands, compared to its average volume of 884,011. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 3.69 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $20.23 and a 200 day moving average price of $23.00.

Kennametal (NYSE:KMT - Get Free Report) last released 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 company had revenue of $486.40 million during the quarter, compared to analyst estimates of $489.30 million. During the same period in the prior year, the firm posted $0.30 EPS. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a $0.20 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.71%. Kennametal's payout ratio is 57.55%.

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.