Kennametal (NYSE:KMT) PT Raised to $25.00 at Barclays

Kennametal (NYSE:KMT) had its price target hoisted by Barclays from $24.00 to $25.00 in a report issued on Friday, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other research firms have also weighed in on KMT. Loop Capital decreased their price target on Kennametal from $24.00 to $22.00 and set a hold rating on the stock in a report on Friday, June 21st. StockNews.com downgraded Kennametal from a buy rating to a hold rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $23.83.

Kennametal Price Performance

Shares of KMT traded down $0.17 during mid-day trading on Friday, hitting $24.68. 612,529 shares of the stock were exchanged, compared to its average volume of 666,493. The company has a market cap of $1.94 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.37 and a beta of 1.66. Kennametal has a 52-week low of $22.08 and a 52-week high of $27.75. The firm has a 50-day moving average of $24.23 and a two-hundred day moving average of $24.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 2.42.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The company had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. During the same quarter in the prior year, the firm posted $0.51 EPS. Kennametal’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Kennametal will post 1.45 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, August 13th. Kennametal’s payout ratio is 59.26%.

Insider Transactions at Kennametal

In other news, CEO Sanjay Chowbey purchased 5,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of $24.28 per share, with a total value of $121,400.00. Following the transaction, the chief executive officer now owns 49,270 shares of the company’s stock, valued at $1,196,275.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.61% of the company’s stock.

Hedge Funds Weigh In On Kennametal

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Kennametal during the fourth quarter valued at about $602,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Kennametal by 4.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,768 shares of the industrial products company’s stock valued at $948,000 after buying an additional 1,437 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Kennametal in the fourth quarter valued at about $1,026,000. Federated Hermes Inc. raised its stake in Kennametal by 51.9% in the fourth quarter. Federated Hermes Inc. now owns 28,490 shares of the industrial products company’s stock valued at $735,000 after buying an additional 9,740 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Kennametal by 119.6% in the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock valued at $29,000 after buying an additional 603 shares during the last quarter.

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.