Kennametal (NYSE:KMT) PT Lowered to $24.00

Kennametal (NYSE:KMT) had its price objective reduced by Barclays from $25.00 to $24.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential upside of 1.03% from the company’s previous close.

Several other equities analysts have also commented on KMT. Loop Capital reduced their target price on shares of Kennametal from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, June 21st. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.67.

Kennametal Stock Up 4.1 %

KMT opened at $23.76 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 2.42 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.16 and a beta of 1.66. Kennametal has a twelve month low of $22.08 and a twelve month high of $30.60. The company’s 50-day moving average price is $24.53 and its two-hundred day moving average price is $24.55.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The firm had revenue of $515.80 million for 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 revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. As a group, equities analysts expect that Kennametal will post 1.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey bought 5,000 shares of the stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $24.28 per share, with a total value of $121,400.00. Following the completion of the acquisition, 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 filing with the SEC, which is available through this hyperlink. Company insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Kennametal by 119.6% during the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 603 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Kennametal in the 1st quarter valued at approximately $32,000. First United Bank & Trust purchased a new position in shares of Kennametal in the 4th quarter valued at approximately $45,000. CWM LLC raised its position in Kennametal by 191.1% during the 4th quarter. CWM LLC now owns 1,767 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,160 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in Kennametal during the 4th quarter worth approximately $48,000.

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.