StockNews.com downgraded shares of Kennametal (NYSE:KMT - Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning.
Several other research firms have also issued reports on KMT. Barclays cut their price target on shares of Kennametal from $25.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Morgan Stanley dropped their target price on Kennametal from $28.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, Kennametal presently has an average rating of "Hold" and a consensus target price of $26.00.
Check Out Our Latest Stock Analysis on KMT
Kennametal Price Performance
Shares of NYSE KMT traded up $0.63 during trading hours on Wednesday, reaching $18.95. 1,332,218 shares of the stock traded hands, compared to its average volume of 854,923. The company's 50-day simple moving average is $21.35 and its two-hundred day simple moving average is $24.32. The company has a market capitalization of $1.47 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. Kennametal has a 52-week low of $17.30 and a 52-week high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.
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%. Equities research analysts forecast that Kennametal will post 1.17 EPS for the current year.
Kennametal Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.22%. Kennametal's dividend payout ratio is currently 65.57%.
Insider Activity at Kennametal
In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 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 filing with the SEC, which is available at this hyperlink. 1.41% of the stock is owned by company insiders.
Institutional Investors Weigh In On Kennametal
A number of large investors have recently modified their holdings of KMT. Wilmington Savings Fund Society FSB bought a new stake in Kennametal during the 3rd quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in shares of 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. GAMMA Investing LLC grew its stake 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 purchasing an additional 459 shares during the period. Curat Global LLC purchased a new position in Kennametal during the first quarter valued at $35,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Kennametal by 107.6% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock valued at $42,000 after buying an additional 1,015 shares in the last quarter.
About Kennametal
(
Get Free Report)
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.
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