Kennametal Inc. (NYSE:KMT) Announces Quarterly Dividend of $0.20

Kennametal Inc. (NYSE:KMT) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Shareholders of record on Tuesday, November 12th will be given a dividend of 0.20 per share by the industrial products company on Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, November 12th.

Kennametal has a dividend payout ratio of 55.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kennametal to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 47.9%.

Kennametal Stock Up 0.4 %

Shares of NYSE KMT opened at $29.48 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.17. The company has a 50-day moving average price of $25.68 and a 200-day moving average price of $25.03. The stock has a market capitalization of $2.29 billion, a P/E ratio of 23.03, a P/E/G ratio of 3.48 and a beta of 1.64. Kennametal has a 1 year low of $22.43 and a 1 year high of $32.18.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. On average, equities research analysts forecast that Kennametal will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target for the company. in a research report on Friday, October 18th. Loop Capital increased their target price on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Barclays increased their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.60.

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.