Kennametal (NYSE:KMT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a buy rating in a report published on Tuesday morning.

Other analysts also recently issued reports about the company. Loop Capital lifted their price target on Kennametal from $22.00 to $24.00 and gave the company a hold rating in a research note on Thursday, August 22nd. Barclays upped their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an equal weight rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $24.17.

Kennametal Stock Down 1.4 %

Shares of Kennametal stock opened at $25.15 on Tuesday. Kennametal has a one year low of $22.08 and a one year high of $27.04. The company has a market cap of $1.98 billion, a P/E ratio of 18.63, a PEG ratio of 2.71 and a beta of 1.65. 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 firm has a fifty day moving average of $25.25 and a two-hundred day moving average of $24.70.

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

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.18%. The ex-dividend date was Tuesday, August 13th. Kennametal’s dividend payout ratio (DPR) is 59.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Kennametal in the 4th quarter valued at about $15,400,000. Hsbc Holdings PLC grew its position in shares of Kennametal by 188.0% in the fourth quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock valued at $2,167,000 after purchasing an additional 54,882 shares during the last quarter. TFO Wealth Partners LLC grew its position in shares of Kennametal by 141,050.0% in the fourth quarter. TFO Wealth Partners LLC now owns 5,646 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 5,642 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Kennametal by 3.8% during the 4th quarter. Gabelli Funds LLC now owns 135,000 shares of the industrial products company’s stock worth $3,482,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Kennametal by 141.8% during the 4th quarter. Quadrature Capital Ltd now owns 37,534 shares of the industrial products company’s stock worth $968,000 after purchasing an additional 22,010 shares during the last quarter.

About Kennametal

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.