Kennametal (NYSE:KMT) Cut to Hold at StockNews.com

StockNews.com cut shares of Kennametal (NYSE:KMT) from a buy rating to a hold rating in a report published on Thursday morning.

KMT has been the topic of a number of other research reports. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research note on Friday, October 18th. Loop Capital raised their price target on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 19th. Morgan Stanley upped their price objective on Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, Barclays decreased their price objective on Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.67.

Kennametal Trading Down 1.6 %

Shares of KMT stock opened at $23.93 on Thursday. The company has a market capitalization of $1.86 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67. Kennametal has a 52-week low of $22.50 and a 52-week high of $32.18. The business’s fifty day moving average is $26.81 and its 200 day moving average is $25.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. During the same quarter last year, the firm posted $0.41 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Kennametal will post 1.44 EPS for the current fiscal year.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling

In other news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the sale, the vice president now directly owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the transaction, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. This represents a 51.81 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.

Institutional Trading of Kennametal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new position in Kennametal in the 3rd quarter worth $804,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Kennametal by 1.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock worth $48,292,000 after buying an additional 20,634 shares during the period. Geode Capital Management LLC lifted its holdings in Kennametal by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock worth $47,096,000 after buying an additional 17,265 shares during the period. Jane Street Group LLC boosted its position in Kennametal by 113.7% during the 3rd quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock valued at $4,957,000 after acquiring an additional 101,711 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Kennametal by 95.6% during the 3rd quarter. Barclays PLC now owns 163,670 shares of the industrial products company’s stock worth $4,244,000 after acquiring an additional 79,992 shares during the period.

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.