Seaport Global Securities Weighs in on Kennametal Inc.’s Q2 2019 Earnings (KMT)

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Kennametal Inc. (NYSE:KMT) – Equities researchers at Seaport Global Securities lifted their Q2 2019 EPS estimates for Kennametal in a research report issued to clients and investors on Tuesday, November 6th. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will earn $0.69 per share for the quarter, up from their previous estimate of $0.68. Seaport Global Securities also issued estimates for Kennametal’s Q3 2019 earnings at $0.80 EPS, FY2019 earnings at $3.18 EPS, Q1 2020 earnings at $0.90 EPS and Q2 2020 earnings at $0.88 EPS.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Kennametal had a return on equity of 19.03% and a net margin of 9.03%. The firm had revenue of $587.00 million for the quarter, compared to the consensus estimate of $590.22 million. During the same quarter last year, the business posted $0.48 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Friday, October 12th. Goldman Sachs Group initiated coverage on Kennametal in a research report on Tuesday, October 2nd. They issued a “buy” rating and a $53.00 target price on the stock. Longbow Research upgraded Kennametal from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, September 10th. ValuEngine upgraded Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Stifel Nicolaus restated a “hold” rating and issued a $47.00 target price on shares of Kennametal in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $48.50.

Shares of Kennametal stock opened at $41.31 on Thursday. Kennametal has a one year low of $32.91 and a one year high of $52.52. The company has a market cap of $3.20 billion, a P/E ratio of 15.59, a P/E/G ratio of 2.52 and a beta of 2.12. The company has a current ratio of 2.55, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.94%. Kennametal’s dividend payout ratio is presently 30.19%.

In related news, VP Michelle R. Keating sold 988 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $42.20, for a total transaction of $41,693.60. Following the completion of the transaction, the vice president now directly owns 14,676 shares of the company’s stock, valued at approximately $619,327.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gaalen Jan Kees Van sold 13,606 shares of the business’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $41.09, for a total value of $559,070.54. Following the transaction, the vice president now directly owns 68,827 shares of the company’s stock, valued at $2,828,101.43. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in Kennametal by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 103,427 shares of the industrial products company’s stock worth $3,713,000 after purchasing an additional 1,364 shares in the last quarter. D.A. Davidson & CO. grew its stake in Kennametal by 21.0% during the 2nd quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock worth $304,000 after purchasing an additional 1,471 shares in the last quarter. Arizona State Retirement System grew its stake in Kennametal by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 56,673 shares of the industrial products company’s stock worth $2,035,000 after purchasing an additional 1,534 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Kennametal by 5.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 31,812 shares of the industrial products company’s stock worth $1,142,000 after purchasing an additional 1,587 shares in the last quarter. Finally, Boothe Investment Group Inc. grew its stake in Kennametal by 2.5% during the 3rd quarter. Boothe Investment Group Inc. now owns 72,181 shares of the industrial products company’s stock worth $3,144,000 after purchasing an additional 1,742 shares in the last quarter.

Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Earnings History and Estimates for Kennametal (NYSE:KMT)

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