Kennametal (NYSE:KMT) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a buy rating in a report released on Saturday.

KMT has been the topic of a number of other reports. Barclays lifted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an equal weight rating in a research note on Friday, August 9th. Loop Capital boosted their price target on shares of Kennametal from $22.00 to $24.00 and gave the stock a hold rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $24.17.

Kennametal Price Performance

Shares of NYSE:KMT opened at $25.72 on Friday. The firm’s 50 day moving average is $25.08 and its two-hundred day moving average is $24.65. The firm has a market capitalization of $2.02 billion, a P/E ratio of 19.05, a PEG ratio of 2.62 and a beta of 1.65. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. Kennametal has a 52 week low of $22.08 and a 52 week high of $27.04.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $543.31 million for the quarter, compared to analysts’ expectations of $532.72 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. Analysts anticipate that Kennametal will post 1.51 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. Kennametal’s dividend payout ratio (DPR) is 59.26%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quarry LP lifted its holdings in shares of Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 704 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Kennametal during the second quarter valued at approximately $28,000. Headlands Technologies LLC purchased a new stake in shares of Kennametal in the 1st quarter valued at approximately $32,000. Quest Partners LLC acquired a new position in Kennametal in the 2nd quarter worth approximately $44,000. Finally, EntryPoint Capital LLC grew its position in Kennametal by 2,552.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 2,603 shares in the last quarter.

About Kennametal

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.