Kennametal Inc. (NYSE:KMT) Receives $24.17 Consensus Target Price from Analysts

Kennametal Inc. (NYSE:KMT) has been given a consensus recommendation of “Reduce” by the five brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $23.83.

KMT has been the topic of several recent research reports. Barclays upped their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Loop Capital reduced their price objective on Kennametal from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday.

Insider Activity 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 stock was purchased at an average cost of $24.28 per share, for a total transaction of $121,400.00. Following the completion of the purchase, the chief executive officer now owns 49,270 shares of the company’s stock, valued at approximately $1,196,275.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.61% of the company’s stock.

Institutional Investors Weigh In On Kennametal

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Kennametal by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,385 shares of the industrial products company’s stock worth $1,058,000 after acquiring an additional 2,519 shares during the last quarter. Keeley Teton Advisors LLC increased its stake in Kennametal by 43.5% during the first quarter. Keeley Teton Advisors LLC now owns 19,664 shares of the industrial products company’s stock worth $490,000 after acquiring an additional 5,964 shares during the last quarter. EntryPoint Capital LLC increased its stake in Kennametal by 2,552.0% during the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 2,603 shares during the last quarter. Natixis increased its stake in Kennametal by 171.0% during the first quarter. Natixis now owns 21,647 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 13,660 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Kennametal by 5.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 67,843 shares of the industrial products company’s stock worth $1,692,000 after acquiring an additional 3,261 shares during the last quarter.

Kennametal Stock Up 0.4 %

KMT opened at $23.69 on Monday. The business’s fifty day moving average is $24.78 and its two-hundred day moving average is $24.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 2.42. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.41 and a beta of 1.72. Kennametal has a one year low of $22.08 and a one year high of $30.60.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The firm had revenue of $515.80 million for the quarter, compared to analysts’ expectations of $518.50 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts anticipate that Kennametal will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.38%. Kennametal’s payout ratio is currently 59.26%.

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.