Two Sigma Advisers LP Reduces Position in Kennametal Inc. (NYSE:KMT)

Two Sigma Advisers LP lessened its stake in Kennametal Inc. (NYSE:KMT - Free Report) by 18.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 243,800 shares of the industrial products company's stock after selling 54,900 shares during the period. Two Sigma Advisers LP owned 0.31% of Kennametal worth $5,856,000 as of its most recent SEC filing.

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

Kennametal Stock Performance

NYSE KMT traded down $0.15 on Friday, hitting $21.72. 144,050 shares of the company's stock were exchanged, compared to its average volume of 880,061. 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's 50-day moving average price is $20.23 and its two-hundred day moving average price is $23.00. Kennametal Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 3.69 and a beta of 1.39.

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, 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 business had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. During the same quarter in the previous year, the company earned $0.30 EPS. The company's quarterly revenue was down 5.7% on a year-over-year basis. On average, research analysts expect that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Tuesday, May 13th. Kennametal's dividend payout ratio (DPR) is presently 57.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KMT. Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Morgan Stanley boosted 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, Barclays boosted their target price on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. One 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.