Kennametal Inc. (NYSE:KMT) Given Consensus Rating of “Reduce” by Brokerages

Shares of Kennametal Inc. (NYSE:KMT) have earned an average rating of “Reduce” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $24.00.

A number of brokerages recently issued reports on KMT. Wall Street Zen raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. UBS Group upgraded Kennametal from a “sell” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $21.00 in a research report on Friday. JPMorgan Chase & Co. cut their price objective on Kennametal from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Zacks Research upgraded Kennametal to a “strong sell” rating in a research report on Monday, August 11th. Finally, Morgan Stanley increased their price objective on Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Kennametal in the second quarter valued at approximately $27,000. Curat Global LLC acquired a new position in shares of Kennametal in the 1st quarter valued at $35,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Kennametal by 116.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,600 shares of the industrial products company’s stock valued at $37,000 after buying an additional 860 shares during the period. Parallel Advisors LLC grew its holdings in shares of Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock valued at $42,000 after buying an additional 1,015 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Kennametal by 93.4% in the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,036 shares during the period.

Kennametal Stock Down 0.6%

Shares of Kennametal stock opened at $21.07 on Friday. The business has a 50-day moving average of $23.27 and a 200-day moving average of $21.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19. The company has a market capitalization of $1.60 billion, a PE ratio of 17.56, a P/E/G ratio of 3.53 and a beta of 1.44. Kennametal has a 1-year low of $17.30 and a 1-year high of $32.18.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). Kennametal had a return on equity of 8.09% and a net margin of 4.73%. The firm had revenue of $516.45 million during the quarter, compared to analyst estimates of $527.52 million. During the same quarter last year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities analysts forecast that Kennametal will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 12th. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. Kennametal’s dividend payout ratio (DPR) is currently 66.67%.

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.