Kennametal (NYSE:KMT) Sets New 12-Month Low at $21.53

Kennametal Inc. (NYSE:KMTGet Rating)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $21.53 and last traded at $21.84, with a volume of 19054 shares traded. The stock had previously closed at $22.48.

Analyst Upgrades and Downgrades

KMT has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price objective on shares of Kennametal from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, June 23rd. Barclays cut their price target on shares of Kennametal from $26.00 to $25.00 in a report on Wednesday, August 3rd. JPMorgan Chase & Co. cut their price target on shares of Kennametal from $31.00 to $22.00 and set an “underweight” rating for the company in a report on Tuesday, July 12th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, September 5th. Finally, Loop Capital cut their price target on shares of Kennametal from $29.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.25.

Kennametal Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.93 and a current ratio of 2.11. The company’s fifty day simple moving average is $24.88 and its two-hundred day simple moving average is $26.24. The stock has a market capitalization of $1.76 billion, a PE ratio of 12.55, a P/E/G ratio of 2.35 and a beta of 1.90.

Kennametal (NYSE:KMTGet Rating) last posted its earnings results on Monday, August 1st. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.06. Kennametal had a net margin of 7.19% and a return on equity of 11.10%. The firm had revenue of $530.02 million during the quarter, compared to the consensus estimate of $516.09 million. During the same period last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Kennametal Inc. will post 1.92 EPS for the current year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 3.71%. Kennametal’s dividend payout ratio is currently 46.51%.

Institutional Investors Weigh In On Kennametal

Several hedge funds have recently modified their holdings of the company. Ariel Investments LLC boosted its stake in shares of Kennametal by 8.9% during the 1st quarter. Ariel Investments LLC now owns 9,707,735 shares of the industrial products company’s stock worth $277,739,000 after purchasing an additional 790,456 shares during the last quarter. BlackRock Inc. boosted its position in shares of Kennametal by 1.0% in the first quarter. BlackRock Inc. now owns 9,588,234 shares of the industrial products company’s stock worth $274,320,000 after acquiring an additional 98,829 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Kennametal by 18.9% in the second quarter. Burgundy Asset Management Ltd. now owns 4,632,157 shares of the industrial products company’s stock worth $107,605,000 after acquiring an additional 736,816 shares during the last quarter. FMR LLC boosted its position in shares of Kennametal by 72.5% in the second quarter. FMR LLC now owns 3,224,536 shares of the industrial products company’s stock worth $74,906,000 after acquiring an additional 1,355,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Kennametal by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,999,328 shares of the industrial products company’s stock worth $85,813,000 after acquiring an additional 133,553 shares during the last quarter.

Kennametal Company Profile

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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.

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