Kennametal (NYSE:KMT) Price Target Cut to $25.00 by Analysts at Barclays

Kennametal (NYSE:KMTFree Report) had its price target trimmed by Barclays from $26.00 to $25.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the stock. Morgan Stanley began coverage on shares of Kennametal in a research note on Monday, January 8th. They issued an equal weight rating and a $24.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Kennametal from $30.00 to $26.00 and set an underweight rating on the stock in a research note on Monday, October 16th. Bank of America decreased their price target on shares of Kennametal from $28.00 to $25.00 in a report on Wednesday, October 11th. The Goldman Sachs Group reduced their target price on shares of Kennametal from $26.00 to $23.00 and set a sell rating on the stock in a report on Thursday, November 2nd. Finally, StockNews.com lowered shares of Kennametal from a buy rating to a hold rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $25.21.

Check Out Our Latest Stock Report on Kennametal

Kennametal Stock Performance

Shares of Kennametal stock opened at $23.79 on Thursday. The company’s 50 day moving average price is $24.98 and its two-hundred day moving average price is $25.08. The firm has a market capitalization of $1.89 billion, a P/E ratio of 15.86, a P/E/G ratio of 3.01 and a beta of 1.79. Kennametal has a fifty-two week low of $22.08 and a fifty-two week high of $30.60. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.44 and a quick ratio of 1.05.

Kennametal (NYSE:KMTGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $495.30 million during the quarter, compared to the consensus estimate of $498.99 million. Kennametal had a net margin of 5.86% and a return on equity of 9.94%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities analysts forecast that Kennametal will post 1.63 earnings per share for the current fiscal year.

Kennametal declared that its Board of Directors has approved a share buyback program on Wednesday, February 7th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th will be issued a $0.20 dividend. The ex-dividend date is Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a yield of 3.36%. Kennametal’s dividend payout ratio is currently 53.33%.

Institutional Investors Weigh In On Kennametal

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Kennametal by 119.6% in the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 603 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Kennametal in the second quarter worth about $32,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Kennametal in the second quarter worth about $35,000. Advisor Group Holdings Inc. increased its holdings in shares of Kennametal by 88.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,621 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 759 shares during the last quarter. Finally, First United Bank & Trust bought a new stake in shares of Kennametal in the fourth quarter worth about $45,000.

About Kennametal

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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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