Kennametal Inc. (NYSE:KMT) Receives Average Recommendation of “Reduce” from Analysts

Shares of Kennametal Inc. (NYSE:KMT) have received an average recommendation of “Reduce” from the six analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $27.67.

Several research analysts have issued reports on the stock. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research report on Friday, October 18th. Morgan Stanley lifted their target price on Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Barclays reduced their target price on Kennametal from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Finally, Loop Capital raised their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th.

Insider Buying and Selling

In other news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the transaction, the vice president now owns 39,581 shares in the company, valued at $1,117,767.44. This represents a 34.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the sale, the vice president now directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kennametal

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares during the period. Covestor Ltd lifted its holdings in Kennametal by 14.4% during the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 472 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Kennametal by 3.8% in the 4th quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company’s stock worth $445,000 after acquiring an additional 672 shares in the last quarter. Quarry LP boosted its stake in Kennametal by 198.9% in the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 704 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 716 shares during the last quarter.

Kennametal Stock Down 2.1 %

KMT opened at $23.45 on Tuesday. The stock’s fifty day moving average is $25.31 and its 200-day moving average is $25.67. Kennametal has a one year low of $22.50 and a one year high of $32.18. The company has a market capitalization of $1.82 billion, a PE ratio of 18.32, a P/E/G ratio of 2.32 and a beta of 1.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. Kennametal’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. On average, equities analysts predict that Kennametal will post 1.43 EPS for the current fiscal year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 annualized dividend and a yield of 3.41%. Kennametal’s dividend payout ratio is presently 62.50%.

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.