Brokerages Set Kennametal Inc. (NYSE:KMT) Price Target at $26.17

Shares of Kennametal Inc. (NYSE:KMT) have earned a consensus rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $26.17.

KMT has been the subject of a number of analyst reports. 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 report on Friday, October 18th. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group downgraded Kennametal from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, Loop Capital boosted their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th.

Kennametal Stock Performance

Shares of NYSE:KMT opened at $26.68 on Monday. The firm’s 50 day simple moving average is $27.16 and its 200-day simple moving average is $25.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. Kennametal has a one year low of $22.50 and a one year high of $32.18. The firm has a market cap of $2.07 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.29 and a beta of 1.65.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, equities analysts predict that Kennametal will post 1.44 EPS for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.00%. Kennametal’s payout ratio is 62.50%.

Insider Buying and Selling

In related news, VP John Wayne Witt sold 1,765 shares of Kennametal stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the sale, the vice president now owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the sale, the vice president now directly owns 39,581 shares of the company’s stock, valued at $1,117,767.44. This represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KMT. Price T Rowe Associates Inc. MD lifted its position in shares of Kennametal by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,385 shares of the industrial products company’s stock valued at $1,058,000 after acquiring an additional 2,519 shares in the last quarter. CWM LLC lifted 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 valued at $72,000 after purchasing an additional 970 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Kennametal by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,270,285 shares of the industrial products company’s stock worth $29,903,000 after purchasing an additional 48,638 shares during the last quarter. Azarias Capital Management L.P. grew its holdings in shares of Kennametal by 34.9% during the second quarter. Azarias Capital Management L.P. now owns 259,399 shares of the industrial products company’s stock worth $6,106,000 after buying an additional 67,139 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Kennametal in the second quarter valued at about $900,000.

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.