Kennametal Inc. (NYSE:KMT) Receives Consensus Recommendation of "Reduce" from Brokerages

Kennametal Inc. (NYSE:KMT - Get Free Report) has received an average recommendation of "Reduce" from the six brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $26.17.

KMT has been the subject of several recent analyst reports. Loop Capital upped their price target on Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a research note on Tuesday, November 19th. Bank of America lowered shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 target price for the company. in a research report on Friday, October 18th. Jefferies Financial Group downgraded shares of Kennametal from a "buy" rating to a "hold" rating and reduced their price target for the company from $40.00 to $32.00 in a report on Friday. Finally, StockNews.com lowered Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th.

Insider Buying and Selling

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

Hedge Funds Weigh In On Kennametal

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Kennametal by 33.5% in the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company's stock worth $162,105,000 after purchasing an additional 1,567,867 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of 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 worth $117,175,000 after acquiring an additional 67,327 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kennametal by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company's stock valued at $110,248,000 after acquiring an additional 100,905 shares during the period. Victory Capital Management Inc. grew its position 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 valued at $77,640,000 after acquiring an additional 50,622 shares during the last quarter. Finally, Brandes Investment Partners LP increased its stake in Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company's stock worth $54,798,000 after purchasing an additional 606,477 shares during the period.

Kennametal Price Performance

Shares of KMT traded up $0.13 during mid-day trading on Monday, reaching $27.39. The stock had a trading volume of 363,593 shares, compared to its average volume of 714,842. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 2.29 and a beta of 1.65. Kennametal has a 12 month low of $22.50 and a 12 month high of $32.18. The business has a fifty day moving average of $27.01 and a 200 day moving average of $25.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52.

Kennametal (NYSE:KMT - Get Free Report) last posted 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 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 quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Equities analysts predict that Kennametal will post 1.45 EPS for the current year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Tuesday, November 12th. Kennametal's dividend payout ratio is 62.50%.

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.