Squarepoint Ops LLC Has $1.01 Million Stock Position in Kennametal Inc. (NYSE:KMT)

Squarepoint Ops LLC cut its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 68.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,923 shares of the industrial products company's stock after selling 91,104 shares during the period. Squarepoint Ops LLC owned approximately 0.05% of Kennametal worth $1,007,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Twinbeech Capital LP bought a new stake in Kennametal during the fourth quarter worth about $410,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Kennametal during the 4th quarter worth approximately $421,000. ProShare Advisors LLC boosted its position in shares of Kennametal by 42.2% during the 4th quarter. ProShare Advisors LLC now owns 23,462 shares of the industrial products company's stock worth $564,000 after acquiring an additional 6,959 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Kennametal by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,294 shares of the industrial products company's stock valued at $1,064,000 after acquiring an additional 934 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Kennametal by 43.4% during the fourth quarter. Lazard Asset Management LLC now owns 46,086 shares of the industrial products company's stock valued at $1,106,000 after purchasing an additional 13,943 shares in the last quarter.

Kennametal Price Performance

KMT stock traded up $0.13 during midday trading on Wednesday, reaching $21.65. 586,769 shares of the stock were exchanged, compared to its average volume of 887,123. Kennametal Inc. has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a fifty day moving average price of $20.19 and a 200 day moving average price of $22.80. 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 stock has a market capitalization of $1.65 billion, a PE ratio of 17.75, a P/E/G ratio of 3.69 and a beta of 1.39.

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, topping 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 company had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. During the same period in the previous year, the business posted $0.30 earnings per share. The business's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, analysts expect that Kennametal Inc. will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Kennametal's payout ratio is currently 57.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Barclays lifted their target price on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research 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 assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.