Barclays Forecasts Strong Price Appreciation for Kennametal (NYSE:KMT) Stock

Kennametal (NYSE:KMT) had its price objective lifted by Barclays from $22.00 to $24.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

KMT has been the topic of a number of other reports. Morgan Stanley upped their price target on shares of Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.80.

Kennametal Trading Up 5.3%

Shares of KMT stock opened at $21.91 on Monday. Kennametal has a 52-week low of $17.30 and a 52-week high of $32.18. The company has a 50-day simple moving average of $20.26 and a two-hundred day simple moving average of $23.46. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 3.69 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The firm had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. Research analysts anticipate that Kennametal will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Tuesday, May 13th. Kennametal’s payout ratio is 57.55%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KMT. Wilmington Savings Fund Society FSB bought a new position in Kennametal in the 3rd quarter valued at $30,000. Blue Trust Inc. boosted its holdings in Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC raised its position in shares of Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after buying an additional 459 shares in the last quarter. Curat Global LLC purchased a new stake in shares of Kennametal during the 1st quarter valued at $35,000. Finally, Parallel Advisors LLC raised its position in shares of Kennametal by 107.6% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock valued at $42,000 after buying an additional 1,015 shares in the last quarter.

About Kennametal

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.