Kennametal Inc. (NYSE:KMT) Given Average Recommendation of “Reduce” by Analysts

Kennametal Inc. (NYSE:KMT) has earned a consensus rating of “Reduce” from the six ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $24.33.

Several analysts have weighed in on the stock. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday. Barclays boosted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a research note on Friday. Finally, Loop Capital boosted their price target on Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd.

Hedge Funds Weigh In On Kennametal

A number of institutional investors have recently modified their holdings of KMT. Brandes Investment Partners LP grew its holdings in Kennametal by 35.1% during the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock worth $54,798,000 after acquiring an additional 606,477 shares during the period. American Century Companies Inc. grew its stake in shares of Kennametal by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,903,714 shares of the industrial products company’s stock worth $44,813,000 after purchasing an additional 321,876 shares during the period. Interval Partners LP purchased a new position in shares of Kennametal during the 2nd quarter valued at approximately $5,598,000. Azarias Capital Management L.P. purchased a new position in shares of Kennametal during the 1st quarter valued at approximately $4,795,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Kennametal by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock valued at $110,248,000 after purchasing an additional 100,905 shares during the period.

Kennametal Stock Performance

Shares of KMT opened at $25.71 on Friday. Kennametal has a 12 month low of $22.08 and a 12 month high of $27.04. The stock has a fifty day moving average price of $25.34 and a 200-day moving average price of $24.78. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. The firm has a market cap of $2.02 billion, a PE ratio of 19.04, a P/E/G ratio of 2.65 and a beta of 1.65.

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

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.11%. The ex-dividend date was Tuesday, August 13th. Kennametal’s payout ratio is 59.26%.

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.