Kennametal (NYSE:KMT – Get Rating) had its target price trimmed by Barclays from $25.00 to $24.00 in a research note published on Monday morning, The Fly reports. The firm currently has an equal weight rating on the industrial products company's stock.
Several other analysts also recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Kennametal from $45.00 to $35.00 in a report on Friday, July 15th. JPMorgan Chase & Co. lowered 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. StockNews.com downgraded shares of Kennametal from a buy rating to a hold rating in a report on Friday. Morgan Stanley lowered their target price on shares of Kennametal from $32.00 to $27.00 and set an equal weight rating for the company in a report on Monday, July 18th. Finally, Loop Capital decreased their price objective 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. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kennametal currently has a consensus rating of Hold and an average target price of $27.13.
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Kennametal Stock Performance
KMT opened at $21.80 on Monday. 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 company's fifty day moving average price is $24.32 and its two-hundred day moving average price is $25.54. Kennametal has a 1-year low of $20.21 and a 1-year high of $41.22. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 2.15 and a beta of 1.84.
Kennametal (NYSE:KMT – Get Rating) last released its quarterly earnings data on Monday, August 1st. The industrial products company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.06. The firm had revenue of $530.02 million for the quarter, compared to the consensus estimate of $516.09 million. Kennametal had a net
margin of 7.19% and a return on equity of 11.10%. The business's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, analysts expect that Kennametal will post 1.92 EPS for the current fiscal year.
Kennametal Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 3.67%. Kennametal's dividend payout ratio is presently 46.51%.
Hedge Funds Weigh In On Kennametal
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new position in Kennametal during the first quarter worth about $39,000. Lazard Asset Management LLC bought a new position in Kennametal during the second quarter worth about $42,000. Bank of Montreal Can boosted its position in Kennametal by 12.1% during the first quarter. Bank of Montreal Can now owns 7,089 shares of the industrial products company's stock worth $206,000 after purchasing an additional 768 shares during the period. Keebeck Alpha LP bought a new position in Kennametal during the first quarter worth about $209,000. Finally, Profund Advisors LLC boosted its position in Kennametal by 12.9% during the first quarter. Profund Advisors LLC now owns 7,338 shares of the industrial products company's stock worth $210,000 after purchasing an additional 840 shares during the period.
Kennametal Company Profile
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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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