KMT has been the subject of several other reports. TheStreet lowered shares of Kennametal from a b- rating to a c+ rating in a research note on Tuesday, August 27th. Bank of America reduced their price target on shares of Kennametal from $30.00 to $27.00 and set an underperform rating for the company in a research report on Tuesday, August 6th. Zacks Investment Research downgraded shares of Kennametal from a hold rating to a sell rating and set a $30.00 price target for the company. in a research report on Thursday, October 10th. Goldman Sachs Group downgraded shares of Kennametal from a buy rating to a sell rating and reduced their price target for the company from $43.00 to $30.00 in a research report on Tuesday, July 16th. Finally, BMO Capital Markets reduced their price target on shares of Kennametal from $30.50 to $25.00 and set a market perform rating for the company in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $32.75.
KMT stock opened at $34.19 on Friday. Kennametal has a 12 month low of $27.49 and a 12 month high of $43.98. The firm has a market cap of $2.82 billion, a PE ratio of 11.32, a P/E/G ratio of 2.23 and a beta of 2.28. The firm has a 50 day simple moving average of $31.00 and a 200 day simple moving average of $32.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.54 and a quick ratio of 1.34.
Kennametal (NYSE:KMT) last released its earnings results on Monday, November 4th. The industrial products company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Kennametal had a net margin of 8.31% and a return on equity of 15.40%. The business had revenue of $518.09 million during the quarter, compared to analyst estimates of $517.49 million. During the same period in the prior year, the business earned $0.70 earnings per share. The business’s quarterly revenue was down 11.7% on a year-over-year basis. As a group, sell-side analysts expect that Kennametal will post 1.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.34%. Kennametal’s dividend payout ratio (DPR) is presently 26.49%.
In related news, Director Cindy L. Davis sold 4,644 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $34.15, for a total value of $158,592.60. Following the completion of the sale, the director now owns 11,529 shares in the company, valued at approximately $393,715.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.48% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of KMT. Manchester Financial Inc. purchased a new stake in shares of Kennametal in the 2nd quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new position in Kennametal in the 2nd quarter valued at approximately $31,000. Tower Research Capital LLC TRC acquired a new position in Kennametal in the 2nd quarter valued at approximately $52,000. Quadrant Capital Group LLC increased its stake in Kennametal by 61.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,939 shares of the industrial products company’s stock valued at $55,000 after buying an additional 735 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in Kennametal in the 2nd quarter valued at approximately $72,000. Institutional investors and hedge funds own 98.05% of the company’s stock.
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.
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