Kennametal Inc. (NYSE:KMT) Given Average Rating of “Reduce” by Analysts

Kennametal Inc. (NYSE:KMTGet Free Report) has been given an average recommendation of “Reduce” by the five research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $27.00.

KMT has been the topic of several research analyst reports. Morgan Stanley lowered their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Loop Capital increased their price target on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $32.00 in a report on Friday, December 6th. Finally, Barclays lowered their price target on Kennametal from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th.

Check Out Our Latest Stock Report on Kennametal

Insider Buying and Selling

In related news, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Chowbey purchased 10,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was acquired at an average price of $21.75 per share, with a total value of $217,500.00. Following the purchase, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This represents a 14.79 % increase in their position. The disclosure for this purchase can be found here. 1.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Kennametal

Institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in Kennametal in the 3rd quarter worth $30,000. Blue Trust Inc. increased its stake in Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares in the last quarter. GAMMA Investing LLC increased its stake in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after buying an additional 459 shares in the last quarter. Headlands Technologies LLC increased its stake in Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after buying an additional 1,444 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,008 shares in the last quarter.

Kennametal Stock Performance

Shares of KMT opened at $22.24 on Friday. The business’s fifty day simple moving average is $23.79 and its two-hundred day simple moving average is $25.40. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal has a 12 month low of $20.50 and a 12 month high of $32.18. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 3.67 and a beta of 1.66.

Kennametal (NYSE:KMTGet Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Research analysts anticipate that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. Kennametal’s dividend payout ratio is currently 65.57%.

Kennametal Company Profile

(Get Free Report

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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Analyst Recommendations for Kennametal (NYSE:KMT)

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