Kennametal Inc. (NYSE:KMT) Receives Average Rating of "Reduce" from Brokerages

Kennametal Inc. (NYSE:KMT - Get Free Report) has earned a consensus rating of "Reduce" from the five analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $26.00.

KMT has been the subject of a number of research analyst reports. Barclays lowered their target price on Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday. Morgan Stanley lowered their price objective on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 12th. Finally, StockNews.com lowered shares of Kennametal from a "buy" rating to a "hold" rating in a research note on Wednesday.

Kennametal Trading Up 3.4 %

NYSE:KMT opened at $18.95 on Friday. Kennametal has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The firm's fifty day moving average is $21.35 and its 200-day moving average is $24.34. The firm has a market cap of $1.47 billion, a P/E ratio of 15.53, a P/E/G ratio of 3.69 and a beta of 1.55.

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Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Equities analysts expect that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal's dividend payout ratio is currently 65.57%.

Insider Activity at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 10,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the acquisition, the chief executive officer now directly owns 77,595 shares of the company's stock, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kennametal

Hedge funds have recently added to or reduced their stakes in the stock. Curat Global LLC bought a new position in shares of Kennametal in the first quarter valued at approximately $35,000. Merit Financial Group LLC bought a new position in Kennametal during the 1st quarter valued at $424,000. Parallel Advisors LLC lifted its stake in Kennametal by 107.6% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 1,015 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Kennametal by 699.1% during the 1st quarter. GAMMA Investing LLC now owns 11,651 shares of the industrial products company's stock worth $248,000 after acquiring an additional 10,193 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Kennametal in the 4th quarter worth $962,000.

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.

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