Renaissance Technologies LLC Sells 84,499 Shares of Kennametal Inc. (NYSE:KMT)

Renaissance Technologies LLC decreased its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 26.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,901 shares of the industrial products company's stock after selling 84,499 shares during the quarter. Renaissance Technologies LLC owned about 0.30% of Kennametal worth $5,546,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KMT. Wilmington Savings Fund Society FSB bought a new stake in Kennametal in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. increased its holdings in Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after buying an additional 716 shares during the last quarter. GAMMA Investing LLC lifted its stake in Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 459 shares during the last quarter. Headlands Technologies LLC lifted its stake in Kennametal by 214.2% in 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 during the last quarter. Finally, KBC Group NV lifted 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 valued at $80,000 after buying an additional 1,122 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have weighed in on KMT. StockNews.com cut shares of Kennametal from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Morgan Stanley cut their target price on shares of Kennametal from $24.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays reduced their price objective on Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $25.20.

Kennametal Trading Up 2.6 %

Kennametal stock traded up $0.48 during mid-day trading on Tuesday, hitting $19.06. 748,914 shares of the stock were exchanged, compared to its average volume of 858,440. The firm's fifty day simple moving average is $20.88 and its two-hundred day simple moving average is $24.00. 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 Inc. has a 12 month low of $17.30 and a 12 month high of $32.18. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. Analysts forecast that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Tuesday, February 11th. Kennametal's payout ratio is 65.57%.

Insider Activity

In other Kennametal news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.41% of the company's stock.

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.