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

Kennametal Inc. (NYSE:KMT) has earned a consensus rating of “Reduce” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.33.

A number of equities research analysts have weighed in on the company. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. Barclays lifted their price target on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Loop Capital increased their price objective on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Finally, StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Friday, October 18th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quarry LP raised its holdings in shares of 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 acquiring an additional 704 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Kennametal in the 2nd quarter valued at about $28,000. Headlands Technologies LLC purchased a new position in Kennametal in the 1st quarter valued at about $32,000. Quest Partners LLC acquired a new stake in shares of Kennametal during the 2nd quarter worth about $44,000. Finally, Signaturefd LLC boosted its position in Kennametal by 98.7% during the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,008 shares during the last quarter.

Kennametal Stock Down 0.8 %

KMT opened at $25.01 on Friday. Kennametal has a 52 week low of $22.08 and a 52 week high of $27.04. The business has a 50 day moving average price of $25.40 and a two-hundred day moving average price of $24.82. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. The company has a market cap of $1.95 billion, a PE ratio of 18.26, a P/E/G ratio of 2.83 and a beta of 1.65.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The business had revenue of $543.31 million during the quarter, compared to analysts’ expectations of $532.72 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate that Kennametal will post 1.43 EPS for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Tuesday, August 13th. Kennametal’s dividend payout ratio (DPR) is presently 58.39%.

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.