Schonfeld Strategic Advisors LLC Reduces Stock Position in Kennametal Inc. (NYSE:KMT)

Schonfeld Strategic Advisors LLC cut its holdings in Kennametal Inc. (NYSE:KMT - Free Report) by 88.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,391 shares of the industrial products company's stock after selling 166,262 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Kennametal were worth $538,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KMT. Pacer Advisors Inc. bought a new stake in shares of Kennametal in the fourth quarter worth about $59,207,000. American Century Companies Inc. increased its position in shares of Kennametal by 13.8% in the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock valued at $61,106,000 after acquiring an additional 308,000 shares during the last quarter. Norges Bank bought a new position in shares of Kennametal in the fourth quarter valued at $5,543,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Kennametal by 32.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock valued at $11,270,000 after buying an additional 115,718 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Kennametal by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company's stock valued at $123,319,000 after buying an additional 101,159 shares during the last quarter.

Kennametal Stock Performance

Shares of NYSE KMT traded up $0.27 during midday trading on Tuesday, hitting $22.19. 875,961 shares of the company's stock traded hands, compared to its average volume of 871,240. The firm has a fifty day moving average of $20.26 and a 200 day moving average of $23.45. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. Kennametal Inc. has a 1 year low of $17.30 and a 1 year high of $32.18. 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 (NYSE:KMT - Get Free Report) last released its 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. The firm had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, analysts forecast that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, May 13th. Kennametal's dividend payout ratio is currently 57.55%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley upped their target price on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday. Barclays increased their price target on Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, StockNews.com raised shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Kennametal has a consensus rating of "Hold" and an average price target of $25.80.

Kennametal 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.