Kennametal Inc. (NYSE:KMT) Receives $24.17 Average Target Price from Brokerages

Kennametal Inc. (NYSE:KMT) has earned an average recommendation of “Reduce” from the five brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $24.17.

Several equities analysts have recently issued reports on KMT shares. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Saturday, September 21st. Loop Capital lifted their target price on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Finally, Barclays boosted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th.

Kennametal Stock Performance

Shares of KMT opened at $26.40 on Wednesday. The company has a 50-day simple moving average of $25.19 and a two-hundred day simple moving average of $24.67. Kennametal has a one year low of $22.08 and a one year high of $27.04. The firm has a market capitalization of $2.08 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.71 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17.

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

Kennametal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.03%. Kennametal’s dividend payout ratio is presently 59.26%.

Institutional Investors Weigh In On Kennametal

A number of hedge funds have recently added to or reduced their stakes in KMT. Texas Permanent School Fund Corp increased its stake in shares of Kennametal by 0.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock worth $1,730,000 after purchasing an additional 610 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Kennametal by 1.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 45,515 shares of the industrial products company’s stock worth $1,135,000 after purchasing an additional 684 shares in the last quarter. Quarry LP boosted its holdings in Kennametal by 198.9% in the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after buying an additional 704 shares during the period. ProShare Advisors LLC boosted its holdings in Kennametal by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock worth $401,000 after buying an additional 945 shares during the period. Finally, CWM LLC boosted its holdings in Kennametal by 46.7% in the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after buying an additional 970 shares during the period.

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.