Brokerages predict that Kennametal Inc. (NYSE:KMT – Get Rating) will report sales of $524.99 million for the current quarter, Zacks reports. Three analysts have made estimates for Kennametal’s earnings. The highest sales estimate is $527.70 million and the lowest is $521.26 million. Kennametal reported sales of $515.97 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.7%. The company is scheduled to announce its next earnings results on Monday, January 1st.
On average, analysts expect that Kennametal will report full-year sales of $2.01 billion for the current fiscal year, with estimates ranging from $2.00 billion to $2.01 billion. For the next financial year, analysts forecast that the firm will report sales of $2.12 billion, with estimates ranging from $2.10 billion to $2.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Kennametal.
Kennametal (NYSE:KMT – Get Rating) last posted its quarterly earnings data on Monday, May 2nd. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. Kennametal had a return on equity of 11.05% and a net margin of 6.91%. During the same period in the prior year, the company posted $0.32 earnings per share.
In related news, Director Joseph Alvarado purchased 1,000 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were acquired at an average cost of $29.05 per share, for a total transaction of $29,050.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William M. Lambert bought 36,698 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was acquired at an average price of $26.23 per share, for a total transaction of $962,588.54. Following the completion of the transaction, the director now owns 52,360 shares in the company, valued at $1,373,402.80. The disclosure for this purchase can be found here. Corporate insiders own 1.47% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Avondale Wealth Management bought a new stake in shares of Kennametal during the 4th quarter worth $25,000. UMB Bank N A MO acquired a new stake in shares of Kennametal in the fourth quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in shares of Kennametal in the first quarter worth $39,000. Maverick Capital Ltd. acquired a new stake in shares of Kennametal in the fourth quarter worth $53,000. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Kennametal in the fourth quarter worth $83,000.
Shares of Kennametal stock opened at $26.12 on Friday. The business has a 50-day moving average of $27.72 and a 200 day moving average of $32.74. Kennametal has a 12 month low of $25.00 and a 12 month high of $41.22. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 3.00 and a beta of 1.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.27 and a quick ratio of 1.05.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 24th. Investors of record on Tuesday, May 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Monday, May 9th. Kennametal’s dividend payout ratio is currently 49.08%.
About Kennametal (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.
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