Kennametal Inc. (NYSE:KMT) Receives Average Rating of “Hold” from Brokerages

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Kennametal Inc. (NYSE:KMT) has received a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $39.60.

A number of equities analysts have weighed in on the stock. KeyCorp dropped their target price on shares of Kennametal from $52.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. ValuEngine downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Bank of America dropped their target price on shares of Kennametal from $30.00 to $27.00 and set an “underperform” rating for the company in a research note on Tuesday, August 6th. Goldman Sachs Group downgraded shares of Kennametal from a “buy” rating to a “sell” rating and dropped their target price for the stock from $43.00 to $30.00 in a research note on Tuesday, July 16th. Finally, Zacks Investment Research downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th.

KMT stock traded down $0.17 during trading on Friday, hitting $27.79. 14,743 shares of the stock traded hands, compared to its average volume of 770,820. Kennametal has a one year low of $27.75 and a one year high of $45.10. The stock has a market cap of $2.38 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 1.18 and a beta of 2.24. The stock has a 50 day moving average of $33.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 2.58.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). Kennametal had a net margin of 10.19% and a return on equity of 18.97%. The firm had revenue of $603.95 million for the quarter, compared to the consensus estimate of $643.95 million. During the same period in the prior year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, research analysts forecast that Kennametal will post 2.94 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, August 12th. Kennametal’s dividend payout ratio is presently 26.49%.

In other Kennametal news, Director Lawrence W. Stranghoener sold 7,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $31.98, for a total value of $223,860.00. Following the completion of the transaction, the director now directly owns 26,108 shares of the company’s stock, valued at $834,933.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Kennametal by 1.5% during the second quarter. BlackRock Inc. now owns 9,669,598 shares of the industrial products company’s stock worth $357,679,000 after buying an additional 147,035 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Kennametal by 20.2% during the first quarter. Lazard Asset Management LLC now owns 5,622,390 shares of the industrial products company’s stock valued at $206,622,000 after purchasing an additional 945,630 shares during the period. Invesco Ltd. grew its holdings in Kennametal by 11.2% during the second quarter. Invesco Ltd. now owns 2,789,651 shares of the industrial products company’s stock valued at $103,189,000 after purchasing an additional 281,656 shares during the period. Dimensional Fund Advisors LP grew its holdings in Kennametal by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,520,588 shares of the industrial products company’s stock valued at $83,884,000 after purchasing an additional 177,905 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Kennametal by 1.4% during the first quarter. Victory Capital Management Inc. now owns 2,169,345 shares of the industrial products company’s stock valued at $79,723,000 after purchasing an additional 29,960 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Analyst Recommendations for Kennametal (NYSE:KMT)

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