Kennametal Inc. (NYSE:KMT) Given Average Rating of “Reduce” by Analysts

Kennametal Inc. (NYSE:KMT) has earned a consensus rating of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $27.00.

Several research firms recently issued reports on KMT. Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Loop Capital lifted their price objective on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Barclays cut their target price on shares of Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Finally, Morgan Stanley decreased their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th.

Insider Activity at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 10,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the transaction, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.

Institutional Trading of Kennametal

A number of institutional investors and hedge funds have recently made changes to their positions in KMT. CWM LLC lifted its position in Kennametal by 40.3% in the 3rd quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 1,230 shares during the last quarter. Signaturefd LLC increased its stake in shares of Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,008 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Kennametal by 1,235.5% during the third quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company’s stock valued at $3,284,000 after buying an additional 117,162 shares during the last quarter. Covestor Ltd boosted its position in shares of Kennametal by 14.4% during the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock worth $97,000 after buying an additional 472 shares during the period. Finally, Entropy Technologies LP bought a new position in Kennametal in the 3rd quarter worth approximately $425,000.

Kennametal Stock Down 0.2 %

KMT stock opened at $22.25 on Friday. Kennametal has a twelve month low of $20.50 and a twelve month high of $32.18. The stock has a market cap of $1.72 billion, a P/E ratio of 18.24, a PEG ratio of 3.69 and a beta of 1.66. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $23.55 and its two-hundred day moving average is $25.36.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. Research analysts expect that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Tuesday, February 11th. Kennametal’s dividend payout ratio is presently 65.57%.

About Kennametal

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.