Barclays Issues Pessimistic Forecast for Kennametal (NYSE:KMT) Stock Price

Kennametal (NYSE:KMT) had its price target reduced by Barclays from $30.00 to $27.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Several other equities research analysts also recently issued reports on KMT. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Morgan Stanley lowered their price objective on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research note on Friday, October 18th. Finally, Loop Capital lifted their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Kennametal currently has a consensus rating of “Hold” and an average target price of $27.00.

Kennametal Trading Up 0.2 %

NYSE:KMT opened at $22.52 on Friday. The company’s 50 day moving average is $24.23 and its 200-day moving average is $25.49. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 2.57 and a beta of 1.66. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal has a 12 month low of $20.50 and a 12 month high of $32.18.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (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 analysts anticipate that Kennametal will post 1.18 EPS for the current year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.55%. 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 business’s stock in a transaction on Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of Kennametal 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 completion of the transaction, the vice president now directly owns 1,642 shares of the company’s stock, valued at $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KMT. Pacer Advisors Inc. bought a new position in shares of Kennametal in the fourth quarter valued at about $59,207,000. Wellington Management Group LLP raised its holdings in shares of Kennametal by 33.5% in the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after buying an additional 1,567,867 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Kennametal in the third quarter valued at about $10,295,000. American Century Companies Inc. raised its holdings in Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock worth $61,106,000 after purchasing an additional 308,000 shares during the last quarter. Finally, Norges Bank bought a new stake in Kennametal during the 4th quarter worth about $5,543,000.

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.