Shares of Kennametal Inc. (NYSE:KMT – Get Rating) have earned an average rating of "Hold" from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $27.25.
Several research firms have recently weighed in on KMT. Loop Capital cut their target price on shares of Kennametal from $29.00 to $22.00 and set a "hold" rating for the company in a report on Wednesday, July 20th. JPMorgan Chase & Co. cut their target price on shares of Kennametal from $31.00 to $22.00 and set an "underweight" rating for the company in a report on Tuesday, July 12th. UBS Group lowered shares of Kennametal from a "neutral" rating to a "sell" rating and cut their target price for the company from $27.00 to $19.00 in a report on Friday, July 8th. StockNews.com cut shares of Kennametal from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Morgan Stanley dropped their price target on shares of Kennametal from $32.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th.
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Kennametal Stock Performance
KMT opened at $20.58 on Monday. Kennametal has a 12-month low of $20.21 and a 12-month high of $41.22. The company has a current ratio of 2.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.68 billion, a PE ratio of 11.97, a P/E/G ratio of 2.22 and a beta of 1.90. The firm has a 50 day moving average of $24.38 and a two-hundred day moving average of $25.61.
Kennametal (NYSE:KMT – Get Rating) last posted its earnings results on Monday, August 1st. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.06. The firm had revenue of $530.02 million during the quarter, compared to analyst estimates of $516.09 million. Kennametal had a net
margin of 7.19% and a return on equity of 11.10%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. On average, analysts anticipate that Kennametal will post 1.92 EPS for the current year.
Kennametal Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 3.89%. Kennametal's payout ratio is 46.51%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. raised its holdings in Kennametal by 114.4% in the 4th quarter. Citigroup Inc. now owns 25,408 shares of the industrial products company's stock valued at $912,000 after buying an additional 13,560 shares during the period. Geode Capital Management LLC increased its stake in Kennametal by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 1,448,366 shares of the industrial products company's stock worth $52,010,000 after purchasing an additional 51,504 shares during the period. Barclays PLC increased its stake in Kennametal by 43.1% during the fourth quarter. Barclays PLC now owns 141,228 shares of the industrial products company's stock worth $5,071,000 after purchasing an additional 42,528 shares during the period. State Street Corp increased its stake in Kennametal by 2.4% during the fourth quarter. State Street Corp now owns 2,530,387 shares of the industrial products company's stock worth $90,866,000 after purchasing an additional 59,629 shares during the period. Finally, Guggenheim Capital LLC increased its stake in Kennametal by 1.0% during the fourth quarter. Guggenheim Capital LLC now owns 114,586 shares of the industrial products company's stock worth $4,115,000 after purchasing an additional 1,186 shares during the period.
About Kennametal
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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.
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