Gotham Asset Management LLC Reduces Stock Position in Kennametal Inc. (NYSE:KMT)

Gotham Asset Management LLC trimmed its holdings in Kennametal Inc. (NYSE:KMT) by 25.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,566 shares of the industrial products company’s stock after selling 12,011 shares during the period. Gotham Asset Management LLC’s holdings in Kennametal were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its holdings in 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 during the period. Headlands Technologies LLC grew its position 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 valued at $51,000 after purchasing an additional 1,444 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Kennametal by 801.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 2,181 shares during the period. KBC Group NV raised its position in shares of Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock worth $80,000 after buying an additional 1,122 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Kennametal by 10.5% during the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company’s stock valued at $227,000 after buying an additional 898 shares during the period.

Analysts Set New Price Targets

A number of brokerages have weighed in on KMT. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Friday. Barclays raised their target price 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. Finally, Morgan Stanley lifted their target price on shares of Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. One 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, the company presently has a consensus rating of “Hold” and an average target price of $25.80.

Kennametal Price Performance

KMT opened at $21.87 on Monday. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.67 billion, a P/E ratio of 17.93, a PEG ratio of 3.69 and a beta of 1.39. The stock has a 50-day moving average price of $20.23 and a 200-day moving average price of $23.36. Kennametal Inc. has a 12-month low of $17.30 and a 12-month high of $32.18.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (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 during the quarter, compared to analyst estimates of $489.30 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Kennametal’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, May 13th. Kennametal’s payout ratio is presently 57.55%.

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.