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

Kennametal (NYSE:KMT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Other research analysts also recently issued reports about the company. Loop Capital reduced their target price on Kennametal from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Barclays upped their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, Kennametal presently has an average rating of “Hold” and a consensus price target of $23.83.

Kennametal Stock Down 0.2 %

Shares of KMT stock opened at $22.93 on Monday. Kennametal has a twelve month low of $22.08 and a twelve month high of $30.60. The stock has a market cap of $1.80 billion, a P/E ratio of 16.99, a P/E/G ratio of 2.40 and a beta of 1.67. The stock has a 50 day moving average of $24.67 and a 200 day moving average of $24.67. The company has a current ratio of 2.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). Kennametal had a net margin of 5.29% and a return on equity of 9.35%. The firm had revenue of $515.80 million for the quarter, compared to analysts’ expectations of $518.50 million. During the same period last year, the firm earned $0.39 earnings per share. Kennametal’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Kennametal will post 1.45 EPS for the current year.

Insider Transactions at Kennametal

In other Kennametal news, CEO Sanjay Chowbey purchased 5,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $24.28 per share, with a total value of $121,400.00. Following the acquisition, the chief executive officer now directly owns 49,270 shares of the company’s stock, valued at $1,196,275.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.79% of the company’s stock.

Institutional Trading of Kennametal

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in Kennametal by 119.6% in the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 603 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kennametal during the 1st quarter valued at about $32,000. First United Bank & Trust purchased a new stake in shares of Kennametal during the fourth quarter valued at approximately $45,000. CWM LLC lifted its stake in shares of Kennametal by 191.1% in the fourth quarter. CWM LLC now owns 1,767 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 1,160 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Kennametal during the 4th quarter worth approximately $48,000.

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.