Kennametal Inc. (NYSE:KMT – Get Rating) declared a quarterly dividend on Tuesday, May 3rd, Wall Street Journal reports. Investors of record on Tuesday, May 10th will be paid a dividend of 0.20 per share by the industrial products company on Tuesday, May 24th. This represents a $0.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, May 9th.
Kennametal has a payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kennametal to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.0%.
Shares of Kennametal stock opened at $26.55 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44. Kennametal has a twelve month low of $25.34 and a twelve month high of $42.63. The company has a 50-day simple moving average of $28.71. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.85 and a beta of 1.91.
In other news, Director Joseph Alvarado bought 1,000 shares of the business’s stock in a transaction on Monday, March 14th. The shares were bought at an average price of $29.05 per share, with a total value of $29,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.47% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC purchased a new stake in shares of Kennametal during the third quarter worth $274,000. LPL Financial LLC increased its position in shares of Kennametal by 8.3% during the third quarter. LPL Financial LLC now owns 8,139 shares of the industrial products company’s stock worth $279,000 after acquiring an additional 625 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Kennametal during the fourth quarter worth $375,000. Glenmede Trust Co. NA increased its position in shares of Kennametal by 3.8% during the fourth quarter. Glenmede Trust Co. NA now owns 17,886 shares of the industrial products company’s stock worth $642,000 after acquiring an additional 660 shares during the period. Finally, Comerica Bank increased its position in shares of Kennametal by 1.1% during the fourth quarter. Comerica Bank now owns 55,103 shares of the industrial products company’s stock worth $1,940,000 after acquiring an additional 625 shares during the period.
Several research analysts have recently weighed in on KMT shares. TheStreet cut Kennametal from a “b” rating to a “c+” rating in a report on Friday, February 25th. Zacks Investment Research cut Kennametal from a “hold” rating to a “sell” rating and set a $35.00 target price on the stock. in a report on Wednesday, February 9th. Loop Capital cut Kennametal from a “buy” rating to a “hold” rating and lowered their target price for the stock from $41.00 to $29.00 in a report on Wednesday, April 6th. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Finally, The Goldman Sachs Group lowered their target price on Kennametal from $33.00 to $29.00 and set a “sell” rating on the stock in a report on Thursday, April 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Kennametal presently has an average rating of “Hold” and an average price target of $36.11.
Kennametal Company Profile (Get Rating)
Kennametal Inc develops and applies 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. It operates through two segments, Metal Cutting and Infrastructure.
- Get a free copy of the StockNews.com research report on Kennametal (KMT)
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