KMT has been the subject of a number of other research reports. Jefferies Group LLC reaffirmed a buy rating and issued a $50.00 price objective on shares of Kennametal in a research note on Friday, October 20th. Zacks Investment Research raised Kennametal from a hold rating to a buy rating and set a $40.00 target price on the stock in a research report on Friday, August 4th. BMO Capital Markets reissued a hold rating and issued a $45.00 price objective on shares of Kennametal in a research report on Wednesday, August 23rd. Stifel Nicolaus restated a hold rating on shares of Kennametal in a research note on Friday, August 4th. Finally, Credit Suisse Group upped their price objective on Kennametal from $40.00 to $45.00 and gave the company a neutral rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Kennametal presently has a consensus rating of Hold and a consensus target price of $45.23.
Shares of Kennametal (NYSE KMT) traded down $0.17 during trading on Thursday, reaching $43.56. The company’s stock had a trading volume of 580,400 shares, compared to its average volume of 917,774. The company has a quick ratio of 1.41, a current ratio of 2.71 and a debt-to-equity ratio of 0.63. Kennametal has a 1-year low of $31.12 and a 1-year high of $48.89. The stock has a market cap of $3,460.00, a PE ratio of 22.43, a P/E/G ratio of 2.07 and a beta of 1.95.
Kennametal (NYSE:KMT) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.17. The business had revenue of $542.45 million for the quarter, compared to the consensus estimate of $516.80 million. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. sell-side analysts forecast that Kennametal will post 2.54 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.84%. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.
In other news, VP Robert J. Clemens sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $46.82, for a total transaction of $468,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Charles Michael Jr. Byrnes acquired 1,900 shares of the company’s stock in a transaction on Friday, August 18th. The stock was bought at an average price of $33.00 per share, for a total transaction of $62,700.00. The disclosure for this purchase can be found here. Insiders have sold a total of 15,015 shares of company stock worth $695,563 in the last 90 days. Company insiders own 2.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in KMT. Janus Henderson Group PLC acquired a new position in shares of Kennametal in the 2nd quarter valued at $76,161,000. Vanguard Group Inc. grew its holdings in Kennametal by 18.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock worth $310,219,000 after acquiring an additional 1,263,163 shares during the last quarter. American Century Companies Inc. grew its holdings in Kennametal by 69.6% during the 2nd quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock worth $63,969,000 after acquiring an additional 701,783 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Kennametal by 48.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock worth $57,758,000 after acquiring an additional 501,090 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Kennametal by 131.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 841,647 shares of the industrial products company’s stock worth $31,494,000 after acquiring an additional 478,446 shares during the last quarter. Institutional investors own 95.29% of the company’s stock.
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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