Kennametal Inc. (NYSE:KMT) Receives $26.83 Consensus PT from Analysts

Kennametal Inc. (NYSE:KMT - Get Free Report) has earned an average rating of "Reduce" from the six research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $26.83.

KMT has been the subject of several research reports. Morgan Stanley lifted their price target on Kennametal from $24.50 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Loop Capital boosted their target price on shares of Kennametal from $24.00 to $26.00 and gave the company a "hold" rating in a research report on Tuesday, November 19th. 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. 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. Finally, StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Wednesday.

Insider Activity at Kennametal

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of the business'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 transaction, the vice president now owns 39,581 shares of the company's stock, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Wayne Witt sold 1,765 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the sale, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KMT. GAMMA Investing LLC raised its holdings in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after buying an additional 459 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Kennametal by 48.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company's stock worth $6,286,000 after purchasing an additional 79,547 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Kennametal in the 3rd quarter worth approximately $30,000. Sanctuary Advisors LLC increased its position in shares of Kennametal by 19.3% during the third quarter. Sanctuary Advisors LLC now owns 22,402 shares of the industrial products company's stock worth $581,000 after buying an additional 3,627 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Kennametal during the third quarter worth $342,000.

Kennametal Stock Performance

KMT stock traded down $0.02 during midday trading on Friday, reaching $23.70. 1,044,447 shares of the company were exchanged, compared to its average volume of 791,323. Kennametal has a one year low of $22.50 and a one year high of $32.18. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.26 and a beta of 1.65. The business has a 50-day moving average price of $26.94 and a two-hundred day moving average price of $25.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16.

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

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal's dividend payout ratio (DPR) is presently 62.50%.

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.