Kennametal Inc. (NYSE:KMT) Receives $24.60 Average PT from Analysts

Kennametal Inc. (NYSE:KMT - Get Free Report) has been given a consensus rating of "Reduce" by the five ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $24.60.

Several research analysts have issued reports on the stock. Barclays increased their target price on shares of Kennametal from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. Loop Capital raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the company a "hold" rating in a research note on Thursday, August 22nd. 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 report on Friday, October 18th. Finally, StockNews.com cut Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th.

Kennametal Trading Down 2.3 %

KMT traded down $0.67 on Thursday, reaching $28.69. 900,518 shares of the company traded hands, compared to its average volume of 719,596. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.23 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The firm has a fifty day simple moving average of $26.02 and a two-hundred day simple moving average of $25.17. Kennametal has a one year low of $22.50 and a one year high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million during 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 for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 EPS. As a group, equities research analysts expect that Kennametal will post 1.47 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.79%. Kennametal's dividend payout ratio is currently 62.50%.

Hedge Funds Weigh In On Kennametal

Several hedge funds have recently made changes to their positions in the company. Burgundy Asset Management Ltd. grew its stake in Kennametal by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company's stock valued at $117,175,000 after purchasing an additional 67,327 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Kennametal by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company's stock valued at $110,248,000 after buying an additional 100,905 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Kennametal by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company's stock worth $77,640,000 after buying an additional 50,622 shares during the period. Brandes Investment Partners LP raised its position in Kennametal by 35.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company's stock worth $54,798,000 after buying an additional 606,477 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Kennametal by 1.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company's stock valued at $48,292,000 after acquiring an additional 20,634 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.