Kennametal Inc. (NYSE:KMT) Declares $0.20 Quarterly Dividend

Kennametal Inc. (NYSE:KMT - Get Free Report) declared a quarterly dividend on Tuesday, January 28th,NASDAQ Dividends reports. Investors of record on Tuesday, February 11th will be given a dividend of 0.20 per share by the industrial products company on Tuesday, February 25th. This represents a $0.80 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, February 11th.

Kennametal has a dividend payout ratio of 49.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Kennametal to earn $1.56 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 51.3%.

Kennametal Price Performance

Shares of NYSE:KMT traded down $0.43 during midday trading on Tuesday, hitting $21.53. The company had a trading volume of 985,069 shares, compared to its average volume of 990,325. The business's 50-day simple moving average is $24.70 and its 200-day simple moving average is $25.59. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.57 and a beta of 1.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.16. Kennametal has a twelve month low of $20.50 and a twelve month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS 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%. On average, research analysts predict that Kennametal will post 1.18 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. 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 report on Tuesday, November 19th. Barclays lowered their price target on Kennametal from $31.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, January 8th. Morgan Stanley boosted their price objective on shares of Kennametal from $24.50 to $28.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Bank of America downgraded shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price target on the stock. in a research note on Friday, October 18th. Finally, Jefferies Financial Group cut shares of Kennametal from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kennametal currently has an average rating of "Hold" and a consensus target price of $28.40.

Insider Activity

In related news, VP Franklin Cardenas sold 20,470 shares of the stock in a transaction 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 owns 39,581 shares of the company's stock, valued at $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 1.41% of the company's stock.

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.