Kennametal (NYSE:KMT) Stock Price Expected to Rise, Loop Capital Analyst Says

Kennametal (NYSE:KMT) had its target price lifted by Loop Capital from $24.00 to $26.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

KMT has been the topic of several other reports. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research report on Friday, October 18th. Finally, Barclays boosted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Kennametal presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Kennametal Stock Up 0.9 %

NYSE KMT opened at $29.10 on Tuesday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.35 and a beta of 1.64. Kennametal has a 1-year low of $22.50 and a 1-year high of $32.18. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $26.41 and a 200-day moving average of $25.32.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. On average, equities research analysts expect 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. Investors of record on Tuesday, November 12th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Hedge Funds Weigh In On Kennametal

Institutional investors and 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% during the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock worth $162,105,000 after buying an additional 1,567,867 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in Kennametal by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock worth $117,175,000 after acquiring an additional 67,327 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Kennametal by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock worth $110,248,000 after purchasing an additional 100,905 shares in the last quarter. Victory Capital Management Inc. raised its position in Kennametal by 1.6% in the second quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock valued at $77,640,000 after purchasing an additional 50,622 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in shares of Kennametal by 35.1% during 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 in the last quarter.

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.