Kennametal Inc. (NYSE:KMT) Receives $24.33 Average Target Price from Analysts

Shares of Kennametal Inc. (NYSE:KMT) have been given a consensus rating of “Reduce” by the six research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.33.

A number of brokerages have recently commented on KMT. Loop Capital raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research report on Friday, October 18th. Finally, Barclays boosted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th.

Institutional Trading of Kennametal

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Kennametal by 1,235.5% during the third quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company’s stock valued at $3,284,000 after purchasing an additional 117,162 shares during the last quarter. Signaturefd LLC lifted its holdings in Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,008 shares during the last quarter. Inspire Advisors LLC bought a new stake in shares of Kennametal in the 3rd quarter worth approximately $204,000. Inspire Investing LLC boosted its position in Kennametal by 6.4% during the 3rd quarter. Inspire Investing LLC now owns 17,840 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 1,070 shares during the period. Finally, CWM LLC grew its stake in Kennametal by 40.3% during the 3rd quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock worth $111,000 after buying an additional 1,230 shares during the last quarter.

Kennametal Stock Down 0.8 %

Shares of NYSE KMT opened at $25.01 on Friday. The stock has a market capitalization of $1.95 billion, a PE ratio of 18.26, a P/E/G ratio of 2.83 and a beta of 1.65. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $25.40 and a 200-day moving average of $24.82. Kennametal has a 52-week low of $22.08 and a 52-week high of $27.04.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $543.31 million during the quarter, compared to the consensus estimate of $532.72 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, analysts anticipate that Kennametal will post 1.43 EPS for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.20%. Kennametal’s dividend payout ratio (DPR) is presently 58.39%.

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.