Kennametal Inc. (NYSE:KMT) Given Consensus Rating of "Reduce" by Brokerages

Kennametal Inc. (NYSE:KMT - Get Free Report) has been given a consensus rating of "Reduce" by the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $27.00.

KMT has been the subject of several research reports. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, January 27th. Morgan Stanley dropped their target price on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. Loop Capital raised their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a research note on Tuesday, November 19th. Barclays lowered their price target on shares of Kennametal from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. Finally, Jefferies Financial Group downgraded shares of Kennametal from a "buy" rating to a "hold" rating and cut their price objective for the company from $40.00 to $32.00 in a report on Friday, December 6th.

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Kennametal Price Performance

NYSE KMT traded up $0.13 on Friday, hitting $22.20. The company had a trading volume of 430,332 shares, compared to its average volume of 984,103. 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 capitalization of $1.72 billion, a PE ratio of 18.18, a PEG ratio of 3.69 and a beta of 1.66. Kennametal has a 12-month low of $20.50 and a 12-month high of $32.18. The company's fifty day moving average price is $23.70 and its 200-day moving average price is $25.40.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share 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%. As a group, analysts predict that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is presently 65.57%.

Insider Buying and Selling at Kennametal

In related news, VP Franklin Cardenas sold 20,470 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the transaction, the vice president now directly owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Chowbey bought 10,000 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kennametal

Several hedge funds have recently bought and sold shares of KMT. GAMMA Investing LLC grew its position in shares of Kennametal by 45.9% during 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 in the last quarter. Covestor Ltd boosted its stake in shares of Kennametal by 14.4% during the third quarter. Covestor Ltd now owns 3,753 shares of the industrial products company's stock worth $97,000 after buying an additional 472 shares during the period. Sei Investments Co. increased its holdings in shares of Kennametal by 1.8% in the fourth quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock valued at $831,000 after purchasing an additional 609 shares during the period. Inspire Investing LLC increased its stake in Kennametal by 3.8% in the 4th quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock valued at $445,000 after buying an additional 672 shares during the period. Finally, Blue Trust Inc. raised its holdings in Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after purchasing an additional 716 shares in the last quarter.

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.