Two Sigma Investments LP Decreases Holdings in Kennametal Inc. (NYSE:KMT)

Two Sigma Investments LP lessened its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 51.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,613 shares of the industrial products company's stock after selling 120,902 shares during the quarter. Two Sigma Investments LP owned about 0.15% of Kennametal worth $2,753,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after acquiring an additional 716 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock worth $51,000 after acquiring an additional 1,444 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Kennametal by 801.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock worth $59,000 after acquiring an additional 2,181 shares in the last quarter. KBC Group NV increased its stake in Kennametal by 50.3% during the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 1,122 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Kennametal by 10.5% during the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 898 shares in the last quarter.

Kennametal Stock Performance

Shares of KMT stock traded up $0.13 during trading hours on Wednesday, hitting $21.65. The company's stock had a trading volume of 586,769 shares, compared to its average volume of 887,123. The company has a 50 day moving average of $20.19 and a 200 day moving average of $22.80. The stock has a market cap of $1.65 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18.

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

Kennametal Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on KMT. Barclays upped their price target on shares of 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 upped their price objective on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a 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 research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Kennametal currently has a consensus rating of "Hold" and a consensus price target 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.