Kennametal Inc. (NYSE:KMT) Receives Consensus Rating of “Reduce” from Analysts

Kennametal Inc. (NYSE:KMT) has been given an average recommendation of “Reduce” by the five ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.17.

KMT has been the subject of several recent analyst reports. Barclays upped their target price on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Saturday, September 21st. Finally, Loop Capital boosted their target price on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd.

Kennametal Stock Performance

KMT opened at $26.40 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41. Kennametal has a 52-week low of $22.08 and a 52-week high of $27.04. The firm has a market cap of $2.08 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65. The business’s fifty day moving average is $25.19 and its 200-day moving average is $24.67.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $543.31 million during the quarter, compared to analysts’ expectations of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. Sell-side analysts expect that Kennametal will post 1.51 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 annualized dividend and a yield of 3.03%. Kennametal’s dividend payout ratio is presently 59.26%.

Institutional Trading of Kennametal

Several hedge funds and other institutional investors have recently made changes to their positions in KMT. Sanctuary Advisors LLC bought a new stake in shares of Kennametal in the second quarter worth $451,000. Brandes Investment Partners LP grew its position in shares of Kennametal by 35.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after buying an additional 606,477 shares during the last quarter. Quarry LP grew its position 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 last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Kennametal by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 43,877 shares of the industrial products company’s stock valued at $1,033,000 after buying an additional 1,016 shares during the period. Finally, Millennium Management LLC raised its position in shares of Kennametal by 59.3% during the second quarter. Millennium Management LLC now owns 154,059 shares of the industrial products company’s stock worth $3,627,000 after acquiring an additional 57,327 shares during 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.