Kennametal (NYSE:KMT) Sets New 52-Week Low - Here's Why

Kennametal Inc. (NYSE:KMT - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $19.96 and last traded at $20.00, with a volume of 251745 shares traded. The stock had previously closed at $21.94.

Wall Street Analysts Forecast Growth

KMT has been the topic of several recent research reports. StockNews.com lowered shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Morgan Stanley decreased their price objective on Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. Finally, Barclays dropped their target price on Kennametal from $25.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat.com, Kennametal has a consensus rating of "Hold" and an average price target of $26.40.

Kennametal Stock Performance

The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. The stock's 50-day simple moving average is $22.11 and its 200 day simple moving average is $24.69. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

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Kennametal (NYSE:KMT - Get Free Report) last announced its 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%. Analysts expect that Kennametal Inc. will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.20 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.19%. Kennametal's dividend payout ratio (DPR) is presently 65.57%.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey bought 10,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was bought at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.41% of the stock is owned by corporate insiders.

Institutional Trading of Kennametal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in shares of Kennametal in the 4th quarter valued at about $962,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Kennametal by 24.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 212,536 shares of the industrial products company's stock valued at $5,105,000 after acquiring an additional 41,163 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in Kennametal by 1.4% during the 4th quarter. Voloridge Investment Management LLC now owns 640,162 shares of the industrial products company's stock worth $15,377,000 after acquiring an additional 8,753 shares during the period. Vident Advisory LLC bought a new stake in shares of Kennametal during the 4th quarter valued at $487,000. Finally, Twinbeech Capital LP acquired a new position in shares of Kennametal in the 4th quarter valued at $410,000.

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.