Barclays Lowers Kennametal (NYSE:KMT) Price Target to $30.00

Kennametal (NYSE:KMT - Free Report) had its target price lowered by Barclays from $31.00 to $30.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company's stock.

Several other equities research analysts have also recently commented on KMT. Bank of America cut shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 target price for the company. in a research report on Friday, October 18th. Loop Capital raised their price objective on shares of Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a report on Tuesday, November 19th. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Wednesday, January 1st. Jefferies Financial Group cut Kennametal from a "buy" rating to a "hold" rating and lowered their target price for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Finally, Morgan Stanley raised their price objective on Kennametal from $24.50 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Kennametal currently has an average rating of "Hold" and an average price target of $27.67.

Kennametal Price Performance

NYSE:KMT traded up $0.41 during mid-day trading on Wednesday, reaching $24.35. The stock had a trading volume of 868,142 shares, compared to its average volume of 761,508. The stock has a market capitalization of $1.89 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.26 and a beta of 1.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. Kennametal has a one year low of $22.50 and a one year high of $32.18. The firm has a 50 day moving average price of $26.86 and a two-hundred day moving average price of $25.59.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. Kennametal's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, analysts expect that Kennametal will post 1.44 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 annualized dividend and a yield of 3.29%. Kennametal's payout ratio is presently 62.50%.

Insider Transactions at Kennametal

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in Kennametal in the third quarter worth about $804,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Kennametal by 1.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company's stock worth $48,292,000 after buying an additional 20,634 shares during the period. Geode Capital Management LLC boosted its position in Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company's stock valued at $47,096,000 after purchasing an additional 17,265 shares in the last quarter. Jane Street Group LLC grew its position in shares of Kennametal by 113.7% in 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 during the last quarter. Finally, Barclays PLC grew its holdings in Kennametal by 95.6% in the third quarter. Barclays PLC now owns 163,670 shares of the industrial products company's stock worth $4,244,000 after purchasing an additional 79,992 shares during 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.