Kennametal (NYSE:KMT) Stock Rating Upgraded by StockNews.com

Kennametal (NYSE:KMT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts also recently commented on KMT. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research note on Friday, October 18th. Morgan Stanley lifted their price target on Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Loop Capital increased their price objective on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.83.

Kennametal Stock Down 1.2 %

Shares of KMT stock opened at $23.72 on Wednesday. The stock’s fifty day moving average price is $26.97 and its 200 day moving average price is $25.57. Kennametal has a 1-year low of $22.50 and a 1-year high of $32.18. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.26 and a beta of 1.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, research analysts expect that Kennametal will post 1.44 earnings per share for the current fiscal year.

Insider Transactions at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the transaction, the vice president now directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the sale, the vice president now directly owns 39,581 shares in the company, valued at $1,117,767.44. The trade was a 34.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Kennametal by 33.5% during the 3rd quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after acquiring an additional 1,567,867 shares during the period. Burgundy Asset Management Ltd. grew its holdings in Kennametal by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock valued at $117,175,000 after purchasing an additional 67,327 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kennametal by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock valued at $110,248,000 after buying an additional 100,905 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Kennametal by 1.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock worth $77,640,000 after buying an additional 50,622 shares during the period. Finally, Brandes Investment Partners LP lifted its position in shares of Kennametal by 35.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after buying an additional 606,477 shares in 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.