Two Sigma Investments LP reduced its position in Kennametal Inc. (NYSE:KMT - Free Report) by 51.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,613 shares of the industrial products company's stock after selling 120,902 shares during the period. Two Sigma Investments LP owned approximately 0.15% of Kennametal worth $2,753,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of KMT. Sherbrooke Park Advisers LLC acquired a new stake in shares of Kennametal during the fourth quarter worth approximately $421,000. ProShare Advisors LLC boosted its stake in Kennametal by 42.2% during the 4th quarter. ProShare Advisors LLC now owns 23,462 shares of the industrial products company's stock valued at $564,000 after acquiring an additional 6,959 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Kennametal by 2.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,294 shares of the industrial products company's stock worth $1,064,000 after acquiring an additional 934 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Kennametal by 43.4% in the 4th quarter. Lazard Asset Management LLC now owns 46,086 shares of the industrial products company's stock worth $1,106,000 after purchasing an additional 13,943 shares during the last quarter. Finally, Dean Capital Management increased its holdings in Kennametal by 44.2% in the fourth quarter. Dean Capital Management now owns 103,146 shares of the industrial products company's stock valued at $2,478,000 after buying an additional 31,639 shares during the last quarter.
Wall Street Analyst Weigh In
A number of brokerages have commented on KMT. Barclays lifted 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 boosted their price objective on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $25.80.
Read Our Latest Stock Analysis on Kennametal
Kennametal Stock Performance
Kennametal stock traded up $0.21 during mid-day trading on Wednesday, hitting $21.73. 61,889 shares of the company's stock traded hands, compared to its average volume of 883,246. Kennametal Inc. has a one year low of $17.30 and a one year high of $32.18. The company has a market cap of $1.66 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The firm has a 50 day moving average price of $20.19 and a 200 day moving average price of $22.81. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.
Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $486.40 million during the quarter, compared to analyst estimates of $489.30 million. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The company's revenue was down 5.7% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. On average, equities 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 dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.68%. Kennametal's dividend payout ratio is 57.55%.
About Kennametal
(
Free Report)
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.
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