Analysts Set Kennametal Inc. (NYSE:KMT) PT at $24.00

Shares of Kennametal Inc. (NYSE:KMT) have received an average recommendation of “Reduce” from the eight ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $24.00.

Several research firms recently commented on KMT. Zacks Research upgraded Kennametal from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. UBS Group upgraded Kennametal from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $19.00 to $21.00 in a report on Friday, August 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kennametal in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Kennametal from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, October 14th.

Institutional Investors Weigh In On Kennametal

Several large investors have recently bought and sold shares of KMT. Ameritas Advisory Services LLC bought a new stake in shares of Kennametal during the 2nd quarter valued at about $27,000. Headlands Technologies LLC increased its position in shares of Kennametal by 80.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 682 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Kennametal by 116.2% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,600 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 860 shares during the last quarter. US Bancorp DE increased its position in shares of Kennametal by 93.4% during the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Kennametal by 142.3% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 1,228 shares during the last quarter.

Kennametal Stock Performance

Shares of Kennametal stock opened at $21.97 on Thursday. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 3.83 and a beta of 1.46. The firm’s 50-day moving average is $21.57 and its 200 day moving average is $21.89. Kennametal has a 1 year low of $17.30 and a 1 year high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The firm had revenue of $516.45 million during the quarter, compared to the consensus estimate of $527.52 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS. Sell-side analysts anticipate that Kennametal will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, November 10th. Kennametal’s dividend payout ratio (DPR) is presently 66.67%.

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.