Kennametal Inc. (NYSE:KMT) Receives $24.17 Average Target Price from Brokerages

Kennametal Inc. (NYSE:KMT) has earned a consensus rating of “Reduce” from the five ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $24.17.

Several research firms have commented on KMT. Loop Capital lifted their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Barclays upped their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Kennametal during the fourth quarter worth about $15,400,000. Hsbc Holdings PLC grew its stake in Kennametal by 188.0% in the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock valued at $2,167,000 after buying an additional 54,882 shares in the last quarter. Olympiad Research LP raised its holdings in Kennametal by 62.1% during the 4th quarter. Olympiad Research LP now owns 17,132 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 6,566 shares during the period. TFO Wealth Partners LLC boosted its holdings in shares of Kennametal by 141,050.0% in the fourth quarter. TFO Wealth Partners LLC now owns 5,646 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 5,642 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its position in shares of Kennametal by 808.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 75,207 shares of the industrial products company’s stock valued at $1,940,000 after purchasing an additional 66,927 shares in the last quarter.

Kennametal Trading Down 1.0 %

NYSE KMT opened at $25.68 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $25.20 and a 200 day simple moving average of $24.68. Kennametal has a 12 month low of $22.08 and a 12 month high of $27.04. The firm has a market capitalization of $2.02 billion, a P/E ratio of 19.02, a PEG ratio of 2.71 and a beta of 1.65.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The company had revenue of $543.31 million during the quarter, compared to the consensus estimate of $532.72 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts predict that Kennametal will post 1.51 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.12%. Kennametal’s dividend payout ratio is presently 59.26%.

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.