Kennametal (NYSE:KMT) Downgraded by StockNews.com

StockNews.com downgraded shares of Kennametal (NYSE:KMT) from a buy rating to a hold rating in a report published on Thursday.

KMT has been the subject of several other reports. Barclays increased their price objective on Kennametal from $24.00 to $25.00 and gave the company an equal weight rating in a report on Friday, August 9th. Loop Capital increased their price target on shares of Kennametal from $22.00 to $24.00 and gave the stock a hold rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $24.00.

Kennametal Trading Up 2.6 %

Shares of Kennametal stock opened at $25.40 on Thursday. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $25.20 and a 200-day simple moving average of $24.75. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.65 and a beta of 1.65. Kennametal has a 12-month low of $22.08 and a 12-month high of $27.04.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The company had revenue of $543.31 million during the quarter, compared to the consensus estimate of $532.72 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Kennametal’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Kennametal will post 1.51 EPS for the current fiscal year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, August 13th. Kennametal’s dividend payout ratio is presently 59.26%.

Institutional Trading of Kennametal

Several hedge funds have recently made changes to their positions in KMT. Quarry LP lifted its holdings in shares of Kennametal by 198.9% in the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after buying an additional 704 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Kennametal in the second quarter valued at $28,000. Headlands Technologies LLC purchased a new stake in shares of Kennametal during the 1st quarter worth $32,000. Quest Partners LLC acquired a new position in shares of Kennametal during the 2nd quarter worth $44,000. Finally, EntryPoint Capital LLC increased its holdings in shares of Kennametal by 2,552.0% in the 1st quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 2,603 shares in the last quarter.

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.