Analysts Set Kennametal Inc. (NYSE:KMT) Target Price at $26.17

Kennametal Inc. (NYSE:KMT) has received a consensus rating of “Reduce” from the six research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $26.17.

KMT has been the topic of a number of analyst reports. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. 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.

Kennametal Price Performance

KMT stock opened at $26.99 on Monday. The firm has a market cap of $2.10 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. Kennametal has a 1 year low of $22.50 and a 1 year high of $32.18. The stock has a 50-day simple moving average of $27.10 and a 200-day simple moving average of $25.56.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. On average, equities analysts predict that Kennametal will post 1.45 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.96%. The ex-dividend date was Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Kennametal

In other news, VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the transaction, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the sale, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Kennametal during the third quarter valued at $804,000. Azarias Capital Management L.P. increased its stake in Kennametal by 34.9% during the 2nd quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company’s stock valued at $6,106,000 after buying an additional 67,139 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Kennametal by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock valued at $48,292,000 after buying an additional 20,634 shares during the period. Brandes Investment Partners LP raised 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 worth $54,798,000 after buying an additional 606,477 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Kennametal in the 2nd quarter worth approximately $1,202,000.

About Kennametal

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.