Kennametal (NYSE:KMT) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

KMT has been the subject of several other research reports. Morgan Stanley reduced their price objective on shares of Kennametal from $24.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Barclays reduced their price objective on shares of Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.20.

Kennametal Stock Down 0.5 %

Shares of KMT opened at $19.34 on Monday. The company has a market capitalization of $1.50 billion, a PE ratio of 15.85, a PEG ratio of 3.69 and a beta of 1.55. Kennametal has a 12 month low of $17.30 and a 12 month high of $32.18. The stock’s 50-day moving average price is $20.62 and its two-hundred day moving average price is $23.83. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 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%. On average, analysts anticipate that Kennametal will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the acquisition, the chief executive officer now directly owns 77,595 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Kennametal

A number of hedge funds have recently made changes to their positions in KMT. Barclays PLC raised its stake in shares of Kennametal by 95.6% during the 3rd quarter. Barclays PLC now owns 163,670 shares of the industrial products company’s stock worth $4,244,000 after purchasing an additional 79,992 shares during the period. Virtu Financial LLC bought a new stake in shares of Kennametal during the 3rd quarter worth $342,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal during the 3rd quarter worth $30,000. JPMorgan Chase & Co. raised its stake in shares of Kennametal by 48.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company’s stock worth $6,286,000 after purchasing an additional 79,547 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the period.

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.