Kennametal Inc. (NYSE:KMT) Given Consensus Recommendation of “Reduce” by Analysts

Kennametal Inc. (NYSE:KMT) has received a consensus rating of “Reduce” from the five research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $25.40.

KMT has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Loop Capital reiterated a “hold” rating and set a $24.00 target price (up from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Wall Street Zen upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Morgan Stanley increased their target price on Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th.

Institutional Trading of Kennametal

A number of large investors have recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its position in shares of Kennametal by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 34,150 shares of the industrial products company’s stock valued at $727,000 after buying an additional 600 shares during the last quarter. Sei Investments Co. increased its stake in Kennametal by 1.8% in the 4th quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company’s stock worth $831,000 after acquiring an additional 609 shares during the last quarter. Bank of Montreal Can increased its stake in Kennametal by 10.5% in the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 898 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Kennametal by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,294 shares of the industrial products company’s stock worth $1,064,000 after purchasing an additional 934 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 1,015 shares in the last quarter.

Kennametal Stock Performance

Kennametal stock opened at $24.53 on Tuesday. Kennametal has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.10 and a current ratio of 2.44. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 3.31 and a beta of 1.40. The stock’s 50 day simple moving average is $22.60 and its two-hundred day simple moving average is $21.95.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The business had revenue of $486.40 million during the quarter, compared to analyst estimates of $489.30 million. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS. As a group, analysts expect that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.26%. Kennametal’s payout ratio is presently 57.55%.

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.