Kennametal (NYSE:KMT) Given New $24.00 Price Target at Barclays

Kennametal (NYSE:KMT) had its price objective hoisted by Barclays from $22.00 to $24.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on the company. Morgan Stanley boosted their price objective on Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.80.

Kennametal Stock Performance

Kennametal stock opened at $21.75 on Monday. The stock has a 50-day simple moving average of $20.25 and a 200 day simple moving average of $23.44. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal has a 12-month low of $17.30 and a 12-month high of $32.18. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 3.69 and a beta of 1.39.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The business had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $489.30 million. During the same period in the previous year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, research analysts anticipate that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.68%. Kennametal’s dividend payout ratio is currently 57.55%.

Institutional Trading of Kennametal

Institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal in the 3rd quarter valued at about $30,000. Blue Trust Inc. increased its stake in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 716 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares during the last quarter. Curat Global LLC bought a new stake in shares of Kennametal in the 1st quarter valued at about $35,000. Finally, Parallel Advisors LLC increased its stake in shares of Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 1,015 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.