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

Shares of Kennametal Inc. (NYSE:KMT) have been assigned an average rating of “Reduce” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $27.00.

Several equities analysts have issued reports on KMT shares. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Morgan Stanley lowered their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Loop Capital raised their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 19th. Finally, Barclays dropped their price target on Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th.

Kennametal Trading Down 0.2 %

KMT stock opened at $22.25 on Friday. Kennametal has a 52-week low of $20.50 and a 52-week high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.72 billion, a P/E ratio of 18.24, a PEG ratio of 3.69 and a beta of 1.66. The company’s 50-day simple moving average is $23.55 and its 200-day simple moving average is $25.36.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. As a group, equities analysts forecast that Kennametal will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 annualized dividend and a yield of 3.60%. Kennametal’s dividend payout ratio (DPR) is currently 65.57%.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, with a total value of $217,500.00. Following the transaction, the chief executive officer now owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 39,581 shares in the company, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kennametal

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Kennametal during the third quarter worth about $804,000. GAMMA Investing LLC increased its stake in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after buying an additional 459 shares during the period. Geode Capital Management LLC lifted its holdings in Kennametal by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock worth $47,096,000 after buying an additional 17,265 shares in the last quarter. Jane Street Group LLC lifted its holdings in Kennametal by 113.7% during the 3rd quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock worth $4,957,000 after buying an additional 101,711 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Kennametal by 48.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company’s stock valued at $6,286,000 after buying an additional 79,547 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.