Kennametal (NYSE:KMT) Price Target Raised to $25.00

Kennametal (NYSE:KMT) had its target price hoisted by Barclays from $24.00 to $25.00 in a research note issued to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Kennametal from a buy rating to a hold rating in a research report on Friday, July 12th. Loop Capital reduced their price objective on shares of Kennametal from $24.00 to $22.00 and set a hold rating for the company in a research note on Friday, June 21st. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $23.83.

Kennametal Trading Down 1.3 %

Kennametal stock traded down $0.32 during midday trading on Friday, reaching $24.36. The stock had a trading volume of 31,393 shares, compared to its average volume of 662,369. Kennametal has a 52-week low of $22.08 and a 52-week high of $27.05. The company has a fifty day moving average of $24.23 and a 200 day moving average of $24.54. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 2.37 and a beta of 1.66. The company has a quick ratio of 1.09, a current ratio of 2.42 and a debt-to-equity ratio of 0.46.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $543.31 million during the quarter, compared to analyst estimates of $532.72 million. Kennametal had a net margin of 5.29% and a return on equity of 9.35%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. On average, analysts anticipate that Kennametal will post 1.45 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date is Tuesday, August 13th. Kennametal’s dividend payout ratio is currently 59.26%.

Insider Transactions at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $24.28 per share, for a total transaction of $121,400.00. Following the purchase, the chief executive officer now directly owns 49,270 shares in the company, valued at $1,196,275.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KMT. Signaturefd LLC grew its holdings in shares of Kennametal by 119.6% during the fourth quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock valued at $29,000 after buying an additional 603 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Kennametal during the 1st quarter worth about $32,000. Quest Partners LLC purchased a new stake in Kennametal during the 2nd quarter valued at about $44,000. First United Bank & Trust acquired a new position in shares of Kennametal in the fourth quarter valued at about $45,000. Finally, CWM LLC raised its stake in shares of Kennametal by 191.1% in the fourth quarter. CWM LLC now owns 1,767 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 1,160 shares during the last quarter.

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.