Kennametal (NYSE:KMT) Price Target Raised to $28.00 at Morgan Stanley

Kennametal (NYSE:KMT) had its target price raised by Morgan Stanley from $24.50 to $28.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other research analysts have also weighed in on KMT. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a report on Friday, October 18th. StockNews.com downgraded Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Finally, Loop Capital lifted their target price on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, Kennametal has an average rating of “Hold” and an average price target of $26.83.

Kennametal Stock Down 0.2 %

Shares of NYSE KMT opened at $26.49 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. Kennametal has a 1 year low of $22.50 and a 1 year high of $32.18. The stock’s 50-day simple moving average is $27.19 and its 200-day simple moving average is $25.60. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.29 and a beta of 1.65.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. During the same period in the prior year, the company posted $0.41 EPS. Kennametal’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts anticipate 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. Stockholders of record on Tuesday, November 12th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Tuesday, November 12th. Kennametal’s payout ratio is 62.50%.

Insider Buying and Selling

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the sale, the vice president now directly owns 39,581 shares of the company’s stock, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the transaction, the vice president now directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Kennametal

Large investors have recently made changes to their positions in the company. Quarry LP boosted its position in shares of Kennametal by 198.9% during 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 period. Canada Pension Plan Investment Board bought a new stake in Kennametal during the 2nd quarter valued at $28,000. Wilmington Savings Fund Society FSB acquired a new position in Kennametal during the 3rd quarter worth $30,000. Quest Partners LLC bought a new position in shares of Kennametal in the second quarter worth $44,000. Finally, Signaturefd LLC grew its stake in shares of Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,008 shares in 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.