StockNews.com Downgrades Kennametal (NYSE:KMT) to Hold

StockNews.com downgraded shares of Kennametal (NYSE:KMT - Free Report) from a buy rating to a hold rating in a report released on Monday morning.

Several other equities research analysts also recently commented on KMT. Jefferies Financial Group downgraded shares of Kennametal from a "buy" rating to a "hold" rating and cut their target price for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Barclays lowered their price target on shares of Kennametal from $25.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Finally, Morgan Stanley dropped their price objective on Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, Kennametal currently has a consensus rating of "Hold" and a consensus target price of $26.40.

Kennametal Price Performance

KMT stock traded down $0.78 during midday trading on Monday, reaching $19.06. The company had a trading volume of 363,583 shares, compared to its average volume of 821,598. The stock has a 50 day moving average price of $22.21 and a 200-day moving average price of $24.74. Kennametal has a 1-year low of $18.61 and a 1-year high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55.

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Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (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 research analysts expect that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Tuesday, February 11th. Kennametal's payout ratio is currently 65.57%.

Insiders Place Their Bets

In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares of the company's stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal during the 3rd quarter worth $30,000. Blue Trust Inc. increased its holdings in Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after buying an additional 716 shares during the last quarter. GAMMA Investing LLC raised its position in Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock worth $35,000 after acquiring an additional 459 shares during the period. Headlands Technologies LLC boosted its stake in Kennametal by 214.2% in the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 1,444 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Kennametal by 801.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 2,181 shares during the period.

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.