Kennametal Inc. (NYSE:KMT) Receives $24.17 Consensus PT from Brokerages

Shares of Kennametal Inc. (NYSE:KMT) have been given a consensus recommendation of “Reduce” by the five analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $24.17.

A number of brokerages recently issued reports on KMT. Barclays increased their target price on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Loop Capital lifted their target price on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th.

Kennametal Price Performance

Shares of NYSE:KMT opened at $24.24 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $24.65 and its two-hundred day moving average is $24.60. The firm has a market capitalization of $1.91 billion, a P/E ratio of 17.96, a PEG ratio of 2.74 and a beta of 1.66. Kennametal has a 52 week low of $22.08 and a 52 week high of $27.04.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The firm had revenue of $543.31 million for the quarter, compared to the consensus estimate of $532.72 million. During the same quarter in the previous year, the business earned $0.51 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts anticipate that Kennametal will post 1.51 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.30%. Kennametal’s payout ratio is 59.26%.

Insider Buying and Selling

In other Kennametal news, CEO Sanjay Chowbey bought 5,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $24.28 per share, with a total value of $121,400.00. Following the completion of the transaction, the chief executive officer now directly owns 49,270 shares of the company’s stock, valued at approximately $1,196,275.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kennametal

Several institutional investors have recently bought and sold shares of KMT. Quarry LP increased its holdings in shares of Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 704 shares during the last quarter. Signaturefd LLC raised its position in shares of Kennametal by 119.6% in the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 603 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Kennametal in the second quarter worth $28,000. Headlands Technologies LLC bought a new stake in shares of Kennametal during the 1st quarter worth $32,000. Finally, First United Bank & Trust acquired a new position in Kennametal in the 4th quarter valued at $45,000.

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.