Kennametal Inc. (NYSE:KMT) Receives $27.67 Consensus Target Price from Brokerages

Shares of Kennametal Inc. (NYSE:KMT) have received a consensus recommendation of “Reduce” from the six analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $27.67.

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Loop Capital boosted their price target on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, November 19th. 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. Barclays decreased their target price on Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th.

Insider Activity at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the stock in a transaction that occurred 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 owns 1,642 shares of the company’s stock, valued at $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Franklin Cardenas sold 20,470 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction 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 represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Kennametal

A number of institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Kennametal in the third quarter valued at approximately $804,000. GAMMA Investing LLC grew its holdings in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 459 shares in the last quarter. Geode Capital Management LLC raised its stake in Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock valued at $47,096,000 after buying an additional 17,265 shares in the last quarter. Jane Street Group LLC raised its position in shares of Kennametal by 113.7% during the 3rd quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock valued at $4,957,000 after acquiring an additional 101,711 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Kennametal by 48.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company’s stock worth $6,286,000 after buying an additional 79,547 shares during the last quarter.

Kennametal Stock Down 2.1 %

Shares of NYSE:KMT opened at $23.45 on Tuesday. Kennametal has a 1-year low of $22.50 and a 1-year high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The stock has a market cap of $1.82 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.32 and a beta of 1.66. The firm has a fifty day moving average price of $25.31 and a 200 day moving average price of $25.67.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. Sell-side analysts predict that Kennametal will post 1.43 EPS for the current year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.41%. Kennametal’s dividend payout ratio is currently 62.50%.

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.