Kennametal (NYSE:KMT) Stock Rating Lowered by StockNews.com

Kennametal (NYSE:KMT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Other equities analysts have also recently issued research reports about the company. Loop Capital cut their price target on Kennametal from $24.00 to $22.00 and set a “hold” rating for the company in a report on Friday, June 21st. Barclays raised their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, Kennametal currently has an average rating of “Hold” and a consensus target price of $23.83.

Kennametal Stock Performance

Kennametal stock traded down $0.56 on Monday, reaching $22.98. 737,135 shares of the stock were exchanged, compared to its average volume of 646,396. The company has a current ratio of 2.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46. Kennametal has a twelve month low of $22.08 and a twelve month high of $30.60. The firm has a fifty day moving average price of $24.70 and a two-hundred day moving average price of $24.69. The stock has a market cap of $1.81 billion, a PE ratio of 17.02, a PEG ratio of 2.40 and a beta of 1.67.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). The business had revenue of $515.80 million during the quarter, compared to the consensus estimate of $518.50 million. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts anticipate that Kennametal will post 1.45 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey bought 5,000 shares of the stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $24.28 per share, with a total value of $121,400.00. Following the purchase, the chief executive officer now owns 49,270 shares of the company’s stock, valued at $1,196,275.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KMT. Wellington Management Group LLP boosted its stake in Kennametal by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock valued at $109,371,000 after acquiring an additional 305,542 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Kennametal by 188.0% in the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock worth $2,167,000 after purchasing an additional 54,882 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Kennametal during the fourth quarter worth $1,026,000. GAMMA Investing LLC bought a new stake in Kennametal in the fourth quarter valued at about $48,000. Finally, International Assets Investment Management LLC bought a new stake in Kennametal in the fourth quarter valued at about $602,000.

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.