Kennametal Inc. (NYSE:KMT) Given Consensus Rating of “Reduce” by Brokerages

Kennametal Inc. (NYSE:KMT) has been assigned an average rating of “Reduce” from the five ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $24.60.

A number of equities research analysts recently commented on KMT shares. StockNews.com downgraded Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital increased their price target on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a report on Friday, October 18th. Finally, Barclays increased their target price 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 Kennametal stock opened at $28.19 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $26.18 and a 200 day simple moving average of $25.25. Kennametal has a fifty-two week low of $22.50 and a fifty-two week high of $32.18. The firm has a market cap of $2.19 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.39 and a beta of 1.64.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. During the same quarter last year, the firm earned $0.41 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts predict that Kennametal will post 1.45 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal’s payout ratio is currently 62.50%.

Institutional Investors Weigh In On Kennametal

A number of hedge funds and other institutional investors have recently made changes to their positions in KMT. Quarry LP boosted its stake 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 purchasing an additional 704 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Kennametal in the second quarter valued at about $28,000. Headlands Technologies LLC acquired a new position in shares of Kennametal during the first quarter worth about $32,000. Quest Partners LLC acquired a new stake in Kennametal in the 2nd quarter valued at approximately $44,000. Finally, Signaturefd LLC raised its position in Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,008 shares during 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.