D. E. Shaw & Co. Inc. Cuts Holdings in Kennametal Inc. (NYSE:KMT)

D. E. Shaw & Co. Inc. cut its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 92.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KMT. Dimensional Fund Advisors LP increased its position in shares of Kennametal by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock worth $123,319,000 after purchasing an additional 101,159 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in Kennametal by 3.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company's stock valued at $61,819,000 after purchasing an additional 78,149 shares in the last quarter. American Century Companies Inc. lifted its holdings in Kennametal by 13.8% in the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock valued at $61,106,000 after purchasing an additional 308,000 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Kennametal in the 4th quarter valued at $59,207,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Kennametal by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,479,599 shares of the industrial products company's stock valued at $35,540,000 after purchasing an additional 56,104 shares in the last quarter.

Kennametal Trading Down 1.4%

Shares of Kennametal stock traded down $0.31 during trading hours on Friday, hitting $21.55. The company's stock had a trading volume of 1,152,182 shares, compared to its average volume of 885,174. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The firm has a fifty day moving average of $20.21 and a 200-day moving average of $22.87. The stock has a market cap 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 debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53.

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

Kennametal Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Morgan Stanley lifted their price target on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th. 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 MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $25.80.

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.