Kennametal Inc. (NYSE:KMT) Stock Position Decreased by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,566 shares of the industrial products company's stock after selling 12,011 shares during the quarter. Gotham Asset Management LLC's holdings in Kennametal were worth $830,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Kennametal by 95.6% in the third quarter. Barclays PLC now owns 163,670 shares of the industrial products company's stock worth $4,244,000 after purchasing an additional 79,992 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Kennametal by 20.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,717 shares of the industrial products company's stock worth $402,000 after purchasing an additional 2,841 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Kennametal by 3.8% in the fourth quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock worth $445,000 after purchasing an additional 672 shares in the last quarter. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 716 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock worth $80,000 after purchasing an additional 1,122 shares in the last quarter.

Analyst Ratings Changes

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

Kennametal Trading Down 1.2%

Shares of NYSE:KMT traded down $0.26 during midday trading on Friday, reaching $21.03. The company 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 quick ratio of 1.13 and a current ratio of 2.53. Kennametal Inc. has a 1-year low of $17.30 and a 1-year high of $32.18. 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 company has a fifty day simple moving average of $20.25 and a two-hundred day simple moving average of $23.18.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings results 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 business had revenue of $486.40 million during the quarter, compared to analyst estimates of $489.30 million. During the same quarter last year, the company posted $0.30 EPS. Kennametal's revenue for the quarter was down 5.7% on a year-over-year basis. Research analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

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

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.