BMO Capital Markets Lowers Kennametal (NYSE:KMT) Price Target to $30.50

Kennametal (NYSE:KMT) had its price objective decreased by BMO Capital Markets from $37.00 to $30.50 in a research note published on Wednesday morning, BenzingaRatingsTable reports. BMO Capital Markets currently has a market perform rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. ValuEngine lowered Kennametal from a hold rating to a sell rating in a research report on Wednesday, July 3rd. Goldman Sachs Group lowered Kennametal from a buy rating to a sell rating and decreased their target price for the company from $43.00 to $30.00 in a research report on Tuesday, July 16th. Zacks Investment Research lowered Kennametal from a hold rating to a sell rating in a research report on Wednesday, May 8th. KeyCorp decreased their target price on Kennametal from $52.00 to $47.00 and set an overweight rating on the stock in a research report on Wednesday, May 8th. Finally, Bank of America decreased their target price on Kennametal from $30.00 to $27.00 and set an underperform rating on the stock in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $37.69.

Shares of NYSE KMT opened at $27.75 on Wednesday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.18 and a beta of 2.24. Kennametal has a 12 month low of $27.49 and a 12 month high of $45.10. The firm’s 50 day simple moving average is $32.54 and its 200-day simple moving average is $35.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.58 and a quick ratio of 1.34.



Kennametal (NYSE:KMT) last issued its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The firm had revenue of $603.95 million for the quarter, compared to analyst estimates of $643.95 million. Kennametal had a return on equity of 18.97% and a net margin of 10.19%. Kennametal’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. Analysts anticipate that Kennametal will post 2.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, August 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. Kennametal’s dividend payout ratio (DPR) is 26.49%.

In other news, Director Lawrence W. Stranghoener sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $31.98, for a total transaction of $223,860.00. Following the transaction, the director now owns 26,108 shares in the company, valued at approximately $834,933.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in KMT. Manchester Capital Management LLC purchased a new position in Kennametal in the 1st quarter valued at $29,000. Manchester Financial Inc. purchased a new position in Kennametal in the 2nd quarter valued at $30,000. Advisory Services Network LLC purchased a new position in Kennametal in the 2nd quarter valued at $31,000. Tower Research Capital LLC TRC purchased a new position in Kennametal in the 2nd quarter valued at $52,000. Finally, First Mercantile Trust Co. purchased a new position in Kennametal in the 1st quarter valued at $53,000. Institutional investors own 97.19% of the company’s stock.

Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Analyst Recommendations for Kennametal (NYSE:KMT)

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