Kennametal Inc. to Issue Quarterly Dividend of $0.20 (NYSE:KMT)

Kennametal Inc. (NYSE:KMT - Get Free Report) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Shareholders of record on Tuesday, November 12th will be given a dividend of 0.20 per share by the industrial products company on Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, November 12th.

Kennametal has a dividend payout ratio of 55.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kennametal to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 47.9%.

Kennametal Price Performance

NYSE:KMT traded up $0.13 during trading hours on Friday, reaching $29.48. 1,416,580 shares of the company traded hands, compared to its average volume of 1,013,127. The firm's 50-day moving average is $25.68 and its 200-day moving average is $25.03. The stock has a market cap of $2.29 billion, a P/E ratio of 23.03, a P/E/G ratio of 3.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.17. Kennametal has a 1-year low of $22.43 and a 1-year high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $481.90 million for 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 business's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. Equities research analysts expect that Kennametal will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KMT has been the subject of several recent analyst reports. Bank of America downgraded 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. StockNews.com downgraded Kennametal from a "buy" rating to a "hold" rating in a research note on Thursday. Loop Capital lifted their target price on Kennametal from $22.00 to $24.00 and gave the company a "hold" rating in a research note on Thursday, August 22nd. Finally, Barclays lifted their target price on Kennametal from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, Kennametal has an average rating of "Hold" and an average price target of $24.60.

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.