Kennametal (NYSE:KMT) Lowered to Hold at StockNews.com

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

Several other brokerages have also commented on KMT. Barclays raised their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an equal weight rating in a research note on Friday, August 9th. Loop Capital boosted their price target on Kennametal from $22.00 to $24.00 and gave the stock a hold rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, Kennametal has an average rating of Hold and a consensus target price of $24.17.

Kennametal Stock Performance

Shares of Kennametal stock traded up $0.10 during trading hours on Thursday, reaching $24.85. The company’s stock had a trading volume of 9,970 shares, compared to its average volume of 668,780. Kennametal has a one year low of $22.08 and a one year high of $27.04. The company’s 50 day simple moving average is $25.18 and its 200 day simple moving average is $24.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41. The stock has a market cap of $1.94 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 2.65 and a beta of 1.65.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $543.31 million during the quarter, compared to the consensus estimate of $532.72 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. Kennametal’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, analysts expect that Kennametal will post 1.51 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.22%. Kennametal’s dividend payout ratio (DPR) is 58.39%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KMT. UniSuper Management Pty Ltd acquired a new stake in Kennametal in the 1st quarter valued at about $534,000. Wellington Management Group LLP lifted its stake in Kennametal by 7.8% during the fourth quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock valued at $109,371,000 after purchasing an additional 305,542 shares during the last quarter. Azarias Capital Management L.P. bought a new stake in Kennametal during the first quarter worth approximately $4,795,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in Kennametal by 1.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock worth $48,292,000 after buying an additional 20,634 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Kennametal by 85.3% in the first quarter. BNP Paribas Financial Markets now owns 87,340 shares of the industrial products company’s stock valued at $2,178,000 after buying an additional 40,193 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.