Kennametal Inc. (NYSE:KMT) Receives $24.60 Average PT from Analysts

Shares of Kennametal Inc. (NYSE:KMT) have been given a consensus recommendation of “Reduce” by the five research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $25.00.

KMT has been the subject of several analyst reports. Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research note on Friday, October 18th. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Barclays upped their target price 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. Finally, Loop Capital raised their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday.

Kennametal Stock Up 1.0 %

Shares of Kennametal stock opened at $28.26 on Thursday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.39 and a beta of 1.64. The stock’s 50-day moving average is $26.33 and its 200 day moving average is $25.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. Kennametal has a one year low of $22.50 and a one year high of $32.18.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS. Equities research analysts anticipate that Kennametal will post 1.45 EPS for the current year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal’s dividend payout ratio is presently 62.50%.

Hedge Funds Weigh In On Kennametal

A number of hedge funds have recently bought and sold shares of KMT. Quarry LP lifted its holdings in Kennametal by 198.9% in the second 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 period. Canada Pension Plan Investment Board bought a new position in shares of Kennametal in the 2nd quarter worth approximately $28,000. Headlands Technologies LLC bought a new stake in Kennametal during the first quarter valued at approximately $32,000. Quest Partners LLC purchased a new stake in Kennametal during the second quarter valued at approximately $44,000. Finally, Signaturefd LLC raised its position in 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 acquiring an additional 1,008 shares during the period.

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.