Kennametal Inc. (NYSE:KMT) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $43.72.
Several equities analysts recently commented on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 target price (up from $47.00) on shares of Kennametal in a research note on Saturday, April 29th. BidaskClub lowered Kennametal from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Barrington Research upped their target price on Kennametal from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, April 27th. J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and upped their target price for the company from $40.00 to $43.00 in a research note on Thursday. Finally, Wells Fargo & Company upgraded Kennametal from a “market perform” rating to an “outperform” rating and upped their target price for the company from $26.10 to $43.50 in a research note on Friday, August 4th.
Kennametal (NYSE:KMT) traded down 0.03% during trading on Tuesday, hitting $33.40. The stock had a trading volume of 1,141,504 shares. The stock’s 50-day moving average is $37.13 and its 200 day moving average is $38.27. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 54.75 and a beta of 1.89. Kennametal has a one year low of $26.10 and a one year high of $43.09.
Kennametal (NYSE:KMT) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.08. The business had revenue of $565.03 million during the quarter, compared to analyst estimates of $562.16 million. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities analysts anticipate that Kennametal will post $2.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.80 annualized dividend and a yield of 2.40%. Kennametal’s dividend payout ratio is presently 133.33%.
In other news, Director Philip A. Dur sold 7,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $40.01, for a total value of $280,070.00. Following the completion of the sale, the director now owns 22,024 shares of the company’s stock, valued at $881,180.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Kennametal by 16,832.4% in the first quarter. BlackRock Inc. now owns 8,453,008 shares of the industrial products company’s stock valued at $331,612,000 after buying an additional 8,403,086 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Kennametal during the second quarter valued at $76,161,000. FMR LLC bought a new stake in shares of Kennametal during the first quarter valued at $57,492,000. Vanguard Group Inc. increased its stake in shares of Kennametal by 18.0% in the second quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after buying an additional 1,263,163 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Kennametal by 715.3% in the first quarter. Alliancebernstein L.P. now owns 1,042,421 shares of the industrial products company’s stock valued at $40,894,000 after buying an additional 914,561 shares during the last quarter. 96.76% of the stock is owned by institutional investors.
About Kennametal
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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