Kennametal Inc. (NYSE:KMT) Receives $23.67 Consensus Target Price from Brokerages

Shares of Kennametal Inc. (NYSE:KMT) have been given a consensus recommendation of “Reduce” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.67.

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Friday. Barclays lowered their target price on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Loop Capital lowered their target price on shares of Kennametal from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, June 21st.

Kennametal Price Performance

NYSE:KMT opened at $24.09 on Friday. Kennametal has a one year low of $22.08 and a one year high of $30.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 2.42. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.26 and a beta of 1.66. The firm’s fifty day moving average is $24.52 and its two-hundred day moving average is $24.51.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.30 EPS 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 business had revenue of $515.80 million during the quarter, compared to analysts’ expectations of $518.50 million. During the same period in the previous year, the company posted $0.39 earnings per share. Kennametal’s revenue for the quarter was down 3.8% compared to the same quarter last year. Research analysts expect that Kennametal will post 1.45 EPS for the current year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Monday, May 13th. Kennametal’s dividend payout ratio is presently 59.26%.

Insider Activity at Kennametal

In other Kennametal news, CEO Sanjay Chowbey acquired 5,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was bought at an average price of $24.28 per share, for a total transaction of $121,400.00. Following the acquisition, the chief executive officer now owns 49,270 shares in the company, valued at $1,196,275.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Kennametal

A number of hedge funds have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in Kennametal by 119.6% in the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 603 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Kennametal by 0.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock worth $1,730,000 after buying an additional 610 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Kennametal by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,515 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 684 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Kennametal by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock worth $401,000 after buying an additional 945 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after buying an additional 970 shares during the last quarter.

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.