Brokerages Set Kennametal Inc. (NYSE:KMT) Target Price at $24.17

Shares of Kennametal Inc. (NYSE:KMT) have earned an average rating of “Reduce” from the five ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $24.17.

A number of equities research analysts have recently weighed in on KMT shares. Loop Capital raised their price target on Kennametal from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, May 23rd. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Finally, Barclays raised their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th.

Insider Buying and Selling at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 5,000 shares of the stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $24.28 per share, with a total value of $121,400.00. Following the acquisition, the chief executive officer now directly owns 49,270 shares of the company’s stock, valued at approximately $1,196,275.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.79% of the company’s stock.

Institutional Trading of Kennametal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its holdings in shares of Kennametal by 188.0% during the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock worth $2,167,000 after purchasing an additional 54,882 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Kennametal during the 4th quarter worth approximately $1,026,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Kennametal during the 3rd quarter worth approximately $517,000. GAMMA Investing LLC acquired a new stake in shares of Kennametal during the 4th quarter worth approximately $48,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Kennametal during the 3rd quarter worth approximately $62,000.

Kennametal Stock Down 1.1 %

NYSE:KMT opened at $23.64 on Monday. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.41 and a beta of 1.72. Kennametal has a 1-year low of $22.08 and a 1-year high of $30.60. The company has a current ratio of 2.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average price is $24.78 and its 200 day moving average price is $24.77.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). Kennametal had a net margin of 5.29% and a return on equity of 9.35%. The business had revenue of $515.80 million for the quarter, compared to analyst estimates of $518.50 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Kennametal will post 1.47 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Monday, May 13th. Kennametal’s dividend payout ratio (DPR) is currently 59.26%.

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.