Barclays Trims Kennametal (NYSE:KMT) Target Price to $25.00

Kennametal (NYSE:KMTGet Rating) had its target price cut by Barclays from $26.00 to $25.00 in a research report released on Wednesday, The Fly reports.

Several other research firms also recently weighed in on KMT. JPMorgan Chase & Co. dropped their target price on shares of Kennametal from $31.00 to $22.00 and set an underweight rating for the company in a research report on Tuesday, July 12th. UBS Group downgraded shares of Kennametal from a neutral rating to a sell rating and lowered their price objective for the company from $27.00 to $19.00 in a research report on Friday, July 8th. Loop Capital lowered their price objective on shares of Kennametal from $29.00 to $22.00 and set a hold rating for the company in a research report on Wednesday, July 20th. Jefferies Financial Group lowered their price objective on shares of Kennametal from $45.00 to $35.00 in a research report on Friday, July 15th. Finally, StockNews.com raised shares of Kennametal from a hold rating to a buy rating in a research report on Tuesday, May 17th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $28.56.

Kennametal Price Performance

KMT opened at $26.24 on Wednesday. The company has a 50-day moving average of $25.01 and a 200-day moving average of $28.09. The company has a market capitalization of $2.17 billion, a P/E ratio of 15.26, a PEG ratio of 2.70 and a beta of 1.90. Kennametal has a 1-year low of $21.62 and a 1-year high of $41.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.05 and a current ratio of 2.11.

Kennametal (NYSE:KMTGet Rating) last released its earnings results on Monday, August 1st. The industrial products company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $530.02 million during the quarter, compared to the consensus estimate of $516.09 million. Kennametal had a net margin of 7.19% and a return on equity of 11.10%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. Equities analysts expect that Kennametal will post 1.96 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, August 8th. Kennametal’s payout ratio is 46.51%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KMT. JPMorgan Chase & Co. lifted its stake in shares of Kennametal by 623.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,438,085 shares of the industrial products company’s stock worth $51,640,000 after acquiring an additional 1,239,213 shares during the period. Ariel Investments LLC lifted its stake in shares of Kennametal by 8.9% in the 1st quarter. Ariel Investments LLC now owns 9,707,735 shares of the industrial products company’s stock worth $277,739,000 after acquiring an additional 790,456 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Kennametal by 8.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,955,595 shares of the industrial products company’s stock worth $83,130,000 after acquiring an additional 242,655 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Kennametal in the 1st quarter worth approximately $4,394,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Kennametal by 2,338.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 156,439 shares of the industrial products company’s stock worth $5,618,000 after acquiring an additional 150,024 shares during the period.

Kennametal Company Profile

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Kennametal Inc develops and applies 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. It operates through two segments, Metal Cutting and Infrastructure.

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