Kennametal Inc. (NYSE:KMT) Given Consensus Rating of “Reduce” by Brokerages

Kennametal Inc. (NYSE:KMT) has received an average rating of “Reduce” from the five analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $25.00.

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a report on Friday, October 18th. Loop Capital raised their price target on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Barclays upped their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th.

Institutional Trading of Kennametal

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Kennametal by 33.5% during the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock worth $162,105,000 after purchasing an additional 1,567,867 shares during the period. Brandes Investment Partners LP raised its position in Kennametal by 35.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock worth $54,798,000 after purchasing an additional 606,477 shares during the last quarter. Weiss Asset Management LP acquired a new position in Kennametal during the 3rd quarter worth about $10,295,000. American Century Companies Inc. grew its position in shares of Kennametal by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,903,714 shares of the industrial products company’s stock valued at $44,813,000 after buying an additional 321,876 shares during the last quarter. Finally, Interval Partners LP acquired a new stake in shares of Kennametal in the second quarter valued at about $5,598,000.

Kennametal Trading Up 1.0 %

Shares of NYSE KMT opened at $28.26 on Thursday. Kennametal has a fifty-two week low of $22.50 and a fifty-two week high of $32.18. The firm has a market capitalization of $2.20 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.39 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The company’s 50 day simple moving average is $26.33 and its 200 day simple moving average is $25.30.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The business 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 firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, analysts predict that Kennametal will post 1.45 EPS for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.83%. Kennametal’s payout ratio is presently 62.50%.

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.