Kennametal Inc. (NYSE:KMT) Receives $26.83 Consensus Target Price from Brokerages

Kennametal Inc. (NYSE:KMT) has earned an average recommendation of “Reduce” from the six ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.83.

Several research firms have recently commented on KMT. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Morgan Stanley boosted their price target on Kennametal from $24.50 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Bank of America downgraded 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. Finally, Loop Capital increased their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th.

Insiders Place Their Bets

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

Institutional Trading of Kennametal

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in Kennametal by 33.5% in the 3rd quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after acquiring an additional 1,567,867 shares during the period. Brandes Investment Partners LP grew its position in shares of Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after purchasing an additional 606,477 shares during the period. Weiss Asset Management LP purchased a new stake in shares of Kennametal during the third quarter worth about $10,295,000. American Century Companies Inc. raised its position 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 last quarter. Finally, Interval Partners LP purchased a new position in Kennametal in the 2nd quarter valued at about $5,598,000.

Kennametal Stock Down 0.1 %

Shares of KMT stock opened at $23.70 on Friday. The stock’s fifty day moving average price is $26.94 and its 200 day moving average price is $25.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. Kennametal has a 1-year low of $22.50 and a 1-year high of $32.18. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67.

Kennametal (NYSE:KMT) last posted its quarterly earnings data 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. The firm had revenue of $481.90 million for the quarter, compared to the consensus estimate of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, research analysts expect that Kennametal will post 1.44 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Tuesday, November 12th. Kennametal’s payout ratio is presently 62.50%.

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.