Kennametal Inc. (NYSE:KMT) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Kennametal Inc. (NYSE:KMT) have earned an average rating of “Reduce” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $26.83.

Several equities analysts have weighed in on the stock. Loop Capital lifted their price target on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. Morgan Stanley boosted their price target on Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a research report on Friday, October 18th. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st.

Kennametal Trading Down 0.7 %

NYSE:KMT opened at $23.94 on Friday. The company has a market cap of $1.86 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $26.88 and a two-hundred day simple moving average of $25.60. Kennametal has a 12 month low of $22.50 and a 12 month high of $32.18.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million for the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Research analysts forecast that Kennametal will post 1.44 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.34%. Kennametal’s payout ratio is currently 62.50%.

Insider Transactions at Kennametal

In related news, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the transaction, the vice president now directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the transaction, the vice president now directly owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

Hedge Funds Weigh In On Kennametal

A number of large investors have recently bought and sold shares of the business. Quarry LP raised its stake in shares of Kennametal by 198.9% during 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 in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Kennametal during the second quarter valued at $28,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal in the third quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in Kennametal by 45.9% in the fourth 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 during the period. Finally, Quest Partners LLC bought a new position in Kennametal during the 2nd quarter worth about $44,000.

Kennametal Company Profile

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.