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

Shares of Kennametal Inc. (NYSE:KMT) have been given an average rating of “Reduce” by the five analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $26.60.

A number of equities research analysts recently issued reports on KMT shares. Barclays set a $25.00 target price on Kennametal and gave the company an “equal weight” rating in a research report on Monday, March 10th. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Loop Capital raised their price target on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Finally, Morgan Stanley decreased their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th.

Kennametal Trading Down 0.4 %

NYSE KMT opened at $21.40 on Wednesday. The firm has a market cap of $1.66 billion, a P/E ratio of 17.54, a P/E/G ratio of 3.69 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The stock’s 50-day moving average is $22.83 and its 200-day moving average is $25.01. Kennametal has a one year low of $20.50 and a one year high of $32.18.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) 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%. Sell-side analysts anticipate that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.74%. Kennametal’s dividend payout ratio is currently 65.57%.

Insider Transactions at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the purchase, the chief executive officer now owns 77,595 shares of the company’s stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KMT. Wilmington Savings Fund Society FSB bought a new position in shares of Kennametal during the 3rd quarter worth approximately $30,000. Blue Trust Inc. boosted its stake in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 716 shares during the period. GAMMA Investing LLC boosted its stake in shares of Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 459 shares during the period. Headlands Technologies LLC boosted its stake in shares of Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 1,444 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 2,181 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.