Deutsche Bank AG Sells 14,428 Shares of Kennametal Inc. (NYSE:KMT)

Deutsche Bank AG reduced its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,532 shares of the industrial products company's stock after selling 14,428 shares during the period. Deutsche Bank AG owned 0.17% of Kennametal worth $3,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in Kennametal by 32.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock worth $11,270,000 after purchasing an additional 115,718 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kennametal in the 4th quarter worth about $373,000. AMH Equity Ltd bought a new position in Kennametal during the fourth quarter valued at about $1,441,000. Amundi increased its holdings in Kennametal by 174.7% during the fourth quarter. Amundi now owns 40,359 shares of the industrial products company's stock worth $982,000 after buying an additional 25,666 shares during the last quarter. Finally, Invesco Ltd. raised its position in Kennametal by 4.1% in the fourth quarter. Invesco Ltd. now owns 426,083 shares of the industrial products company's stock worth $10,235,000 after acquiring an additional 16,926 shares during the period.

Kennametal Stock Down 1.2%

KMT stock traded down $0.26 during midday trading on Monday, hitting $21.03. The stock had a trading volume of 753,732 shares, compared to its average volume of 881,741. 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 firm has a market cap of $1.60 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The business has a 50-day moving average of $20.24 and a two-hundred day moving average of $23.08. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18.

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

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued 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 payout ratio is presently 57.55%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KMT shares. Barclays increased their target price on shares of 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 raised their target price on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Wall Street Zen raised Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price 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.