Kennametal Inc. (NYSE:KMT) Given Consensus Recommendation of “Reduce” by Analysts

Kennametal Inc. (NYSE:KMT) has been given a consensus rating of “Reduce” by the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.60.

Several research analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Morgan Stanley decreased their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Finally, Barclays set a $25.00 target price on Kennametal and gave the company an “equal weight” rating in a research note on Monday, March 10th.

Kennametal Stock Down 1.2 %

KMT opened at $22.21 on Wednesday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. Kennametal has a one year low of $20.50 and a one year high of $32.18. The company has a fifty day moving average price of $22.61 and a 200-day moving average price of $24.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. Equities research analysts expect that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal’s payout ratio is presently 65.57%.

Insider Buying and Selling at Kennametal

In related news, CEO Sanjay Chowbey acquired 10,000 shares of the firm’s stock in a transaction dated 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Kennametal

Institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC lifted its position in Kennametal by 20.6% in the third quarter. Natixis Advisors LLC now owns 14,158 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 2,415 shares during the last quarter. Quest Partners LLC raised its holdings in Kennametal by 2,429.9% during the 3rd quarter. Quest Partners LLC now owns 46,929 shares of the industrial products company’s stock valued at $1,217,000 after buying an additional 45,074 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Kennametal during the 3rd quarter valued at $555,000. Charles Schwab Investment Management Inc. grew its holdings in Kennametal by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,423,495 shares of the industrial products company’s stock worth $36,911,000 after acquiring an additional 67,392 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Kennametal in the 3rd quarter worth $804,000.

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.