Kennametal (NYSE:KMT) Price Target Cut to $27.00 by Analysts at Barclays

Kennametal (NYSE:KMT) had its price target cut by Barclays from $30.00 to $27.00 in a report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other equities analysts have also recently weighed in on KMT. Morgan Stanley cut their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. 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 research note on Friday, October 18th. Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Loop Capital upped their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.00.

Kennametal Stock Performance

NYSE KMT opened at $22.52 on Friday. Kennametal has a fifty-two week low of $20.50 and a fifty-two week high of $32.18. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.66. The business has a fifty day moving average of $24.23 and a 200-day moving average of $25.48. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. As a group, analysts predict that Kennametal will post 1.18 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 annualized dividend and a yield of 3.55%. Kennametal’s dividend payout ratio is presently 65.57%.

Insiders Place Their Bets

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of the company’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 completion of the sale, the vice president now directly owns 39,581 shares in the company, valued at $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Chowbey bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, with a total value of $217,500.00. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The disclosure for this purchase can be found here. 1.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kennametal

Institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kennametal in the third quarter worth about $30,000. Blue Trust Inc. boosted its position in shares of Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares during the period. GAMMA Investing LLC boosted its position in shares of Kennametal by 45.9% in the fourth 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. Signaturefd LLC boosted its position in shares of Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,008 shares during the period. Finally, Headlands Technologies LLC boosted its position in shares of Kennametal by 214.2% in the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after buying an additional 1,444 shares during the period.

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.