Morgan Stanley Has Lowered Expectations for Kennametal (NYSE:KMT) Stock Price

Kennametal (NYSE:KMT - Free Report) had its price objective trimmed by Morgan Stanley from $28.00 to $24.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company's stock.

A number of other equities research analysts also recently issued reports on KMT. 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. Jefferies Financial Group downgraded shares of Kennametal from a "buy" rating to a "hold" rating and lowered their price target for the company from $40.00 to $32.00 in a report on Friday, December 6th. Barclays dropped their price target on Kennametal from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Monday, January 27th. Finally, Loop Capital lifted their target price on Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.60.

Kennametal Price Performance

Shares of NYSE:KMT traded up $0.74 during midday trading on Wednesday, reaching $22.27. 1,749,529 shares of the company were exchanged, compared to its average volume of 1,009,740. The stock has a market cap of $1.73 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 2.57 and a beta of 1.66. The business's fifty day moving average is $24.56 and its two-hundred day moving average is $25.56. Kennametal has a one year low of $20.50 and a one year high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share 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%. As a group, analysts predict that Kennametal will post 1.18 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.59%. The ex-dividend date is Tuesday, February 11th. Kennametal's dividend payout ratio (DPR) is presently 65.57%.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the sale, the vice president now directly owns 39,581 shares of the company's stock, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.41% of the company's stock.

Institutional Investors Weigh In On Kennametal

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company's stock valued at $35,000 after buying an additional 459 shares during the period. Covestor Ltd raised its position in shares of Kennametal by 14.4% in the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company's stock worth $97,000 after acquiring an additional 472 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Kennametal by 1.8% during the 4th quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock worth $831,000 after purchasing an additional 609 shares during the last quarter. Inspire Investing LLC boosted its position in Kennametal by 3.8% during the fourth quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock valued at $445,000 after purchasing an additional 672 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 716 shares in the last quarter.

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.