Analysts Set Kennametal Inc. (NYSE:KMT) PT at $27.67

Shares of Kennametal Inc. (NYSE:KMTGet Free Report) have been given an average recommendation of “Reduce” by the six analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $27.67.

A number of equities analysts have recently commented on KMT shares. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Loop Capital lifted their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 19th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research note on Friday, October 18th. Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, Barclays cut their price objective on Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th.

Get Our Latest Report on KMT

Kennametal Price Performance

Shares of NYSE:KMT opened at $23.95 on Tuesday. The company has a market cap of $1.86 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.32 and a beta of 1.67. The business has a fifty day simple moving average of $25.43 and a 200-day simple moving average of $25.67. Kennametal has a 52 week low of $22.50 and a 52 week high of $32.18. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMTGet Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. Equities research analysts forecast that Kennametal will post 1.43 EPS for the current year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.34%. The ex-dividend date is Tuesday, February 11th. Kennametal’s dividend payout ratio (DPR) is 62.50%.

Insiders Place Their Bets

In related news, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the sale, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the transaction, the vice president now owns 39,581 shares in the company, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kennametal

Institutional investors have recently modified their holdings of the stock. Quarry LP increased its holdings in Kennametal by 198.9% in the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after buying an additional 704 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Kennametal in the 2nd quarter worth approximately $28,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. raised its position in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 716 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the last quarter.

About Kennametal

(Get Free Report

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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Analyst Recommendations for Kennametal (NYSE:KMT)

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