Kennametal (NYSE:KMT) Given New $27.00 Price Target at Barclays

Kennametal (NYSE:KMT) had its price target trimmed by Barclays from $30.00 to $27.00 in a report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

KMT has been the topic of several other research reports. Bank of America downgraded 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. Morgan Stanley cut their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Loop Capital boosted their price objective on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Finally, StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.00.

Kennametal Price Performance

Shares of NYSE KMT opened at $22.52 on Friday. Kennametal has a twelve month low of $20.50 and a twelve month high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.57 and a beta of 1.66. The firm has a 50-day moving average of $24.23 and a two-hundred day moving average of $25.49.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. As a group, analysts expect that Kennametal will post 1.18 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.55%. Kennametal’s dividend payout ratio is 65.57%.

Insider Activity

In related news, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the transaction, the vice president now owns 39,581 shares of the company’s stock, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Chowbey acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the transaction, the chief executive officer now owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The disclosure for this purchase can be found here. 1.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kennametal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Freestone Grove Partners LP bought a new position in Kennametal during the fourth quarter valued at approximately $335,000. Northern Trust Corp raised its position in shares of Kennametal by 6.9% in the fourth quarter. Northern Trust Corp now owns 993,716 shares of the industrial products company’s stock valued at $23,869,000 after purchasing an additional 63,770 shares during the period. Aquatic Capital Management LLC raised its position in shares of Kennametal by 51.2% in the fourth quarter. Aquatic Capital Management LLC now owns 67,285 shares of the industrial products company’s stock valued at $1,616,000 after purchasing an additional 22,785 shares during the period. HBK Investments L P bought a new position in shares of Kennametal in the fourth quarter valued at approximately $955,000. Finally, Voya Investment Management LLC raised its position in shares of Kennametal by 13.0% in the fourth quarter. Voya Investment Management LLC now owns 191,950 shares of the industrial products company’s stock valued at $4,611,000 after purchasing an additional 22,092 shares during the period.

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.