Kennametal Inc. (NYSE:KMT) has been given an average recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.60.
Several analysts recently weighed in on KMT shares. Zacks Investment Research cut Kennametal from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Goldman Sachs Group cut Kennametal from a “buy” rating to a “sell” rating and dropped their price target for the stock from $43.00 to $30.00 in a report on Tuesday, July 16th. ValuEngine cut Kennametal from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Bank of America dropped their price target on Kennametal from $30.00 to $27.00 and set an “underperform” rating for the company in a report on Tuesday, August 6th. Finally, KeyCorp dropped their price target on Kennametal from $52.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th.
Shares of KMT traded up $0.52 during mid-day trading on Friday, reaching $28.34. The company’s stock had a trading volume of 642,700 shares, compared to its average volume of 731,788. Kennametal has a 1-year low of $27.49 and a 1-year high of $45.10. The stock has a market cap of $2.31 billion, a P/E ratio of 9.38, a PEG ratio of 1.14 and a beta of 2.24. The business has a 50-day simple moving average of $33.57 and a two-hundred day simple moving average of $35.81. The company has a current ratio of 2.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). The business had revenue of $603.95 million during the quarter, compared to analyst estimates of $643.95 million. Kennametal had a net margin of 10.19% and a return on equity of 18.97%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. Research analysts anticipate that Kennametal will post 2.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, August 12th. This represents a $0.80 annualized dividend and a yield of 2.82%. Kennametal’s payout ratio is currently 26.49%.
In related news, Director Lawrence W. Stranghoener sold 7,000 shares of Kennametal stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $31.98, for a total transaction of $223,860.00. Following the completion of the sale, the director now directly owns 26,108 shares of the company’s stock, valued at approximately $834,933.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC acquired a new position in Kennametal in the 1st quarter valued at $29,000. Manchester Financial Inc. acquired a new position in Kennametal in the 2nd quarter valued at $30,000. Advisory Services Network LLC acquired a new position in Kennametal in the 2nd quarter valued at $31,000. Tower Research Capital LLC TRC acquired a new position in Kennametal in the 2nd quarter valued at $52,000. Finally, First Mercantile Trust Co. acquired a new position in Kennametal in the 1st quarter valued at $53,000. 97.83% of the stock is owned by hedge funds and other institutional investors.
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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