Analysts Set Kennametal Inc. (NYSE:KMT) PT at $26.00

Kennametal Inc. (NYSE:KMT) has earned a consensus recommendation of “Reduce” from the five brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $25.20.

A number of analysts have recently issued reports on KMT shares. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Morgan Stanley cut their target price on shares of Kennametal from $24.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Barclays lowered their price target on Kennametal from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction on Tuesday, February 11th. The stock was acquired at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KMT. Wilmington Savings Fund Society FSB purchased a new position in Kennametal during the third quarter valued at approximately $30,000. Blue Trust Inc. raised its position in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC raised its position in shares of Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 459 shares during the period. Curat Global LLC purchased a new position in shares of Kennametal during the 1st quarter valued at $35,000. Finally, Parallel Advisors LLC boosted its holdings in Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock worth $42,000 after buying an additional 1,015 shares during the period.

Kennametal Price Performance

Shares of KMT opened at $18.64 on Friday. The company has a market capitalization of $1.44 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. Kennametal has a twelve month low of $17.30 and a twelve month high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $21.08 and a 200 day moving average of $24.15.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, equities research analysts anticipate that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.29%. Kennametal’s dividend payout ratio is currently 65.57%.

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.