Kennametal (NYSE:KMT) Stock Rating Lowered by StockNews.com

Kennametal (NYSE:KMT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

KMT has been the topic of several other reports. Morgan Stanley reduced their target price on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Finally, Barclays lowered their target price on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.40.

Kennametal Stock Performance

Shares of NYSE KMT opened at $21.39 on Monday. The company has a 50-day simple moving average of $22.34 and a 200-day simple moving average of $24.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The company has a market cap of $1.65 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. Kennametal has a 12 month low of $20.50 and a 12 month high of $32.18.

Kennametal (NYSE:KMT) last released its earnings results 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 return on equity of 8.12% and a net margin of 4.76%. On average, equities analysts anticipate that Kennametal will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other Kennametal news, CEO Sanjay Chowbey bought 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the acquisition, the chief executive officer now owns 77,595 shares of the company’s stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in shares of Kennametal by 33.5% in the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after buying an additional 1,567,867 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kennametal by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock worth $123,319,000 after acquiring an additional 101,159 shares during the period. Brandes Investment Partners LP grew its position in Kennametal by 3.1% in the fourth quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock valued at $61,819,000 after acquiring an additional 78,149 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Kennametal by 13.8% during the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock valued at $61,106,000 after purchasing an additional 308,000 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Kennametal during the fourth quarter worth $59,207,000.

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.