Kennametal (NYSE:KMT) Upgraded at StockNews.com

StockNews.com upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a buy rating in a research note published on Wednesday.

Several other analysts have also recently issued reports on the company. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a research note on Friday, October 18th. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Loop Capital boosted their price objective 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. Finally, Morgan Stanley lifted their target price on Kennametal from $24.50 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Kennametal has an average rating of “Hold” and an average target price of $26.83.

Kennametal Trading Down 0.1 %

Shares of KMT opened at $23.70 on Wednesday. The stock has a market cap of $1.84 billion, a PE ratio of 18.52, a P/E/G ratio of 2.26 and a beta of 1.65. The stock’s 50-day moving average is $26.94 and its two-hundred day moving average is $25.56. Kennametal has a 12 month low of $22.50 and a 12 month high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. Equities analysts forecast that Kennametal will post 1.44 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.38%. Kennametal’s dividend payout ratio (DPR) is 62.50%.

Insiders Place Their Bets

In related news, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the transaction, the vice president now owns 39,581 shares of the company’s stock, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of the 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 of the company’s stock, valued at $48,192.70. The trade was a 51.81 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.

Institutional Trading of Kennametal

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares during the last quarter. Covestor Ltd lifted its position in shares of Kennametal by 14.4% in the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock worth $97,000 after buying an additional 472 shares during the last quarter. Quarry LP lifted its position in shares of Kennametal by 198.9% in the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after buying an additional 704 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,008 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Kennametal by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 43,877 shares of the industrial products company’s stock valued at $1,033,000 after purchasing an additional 1,016 shares during the last quarter.

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.