Kennametal (NYSE:KMT) Hits New 1-Year Low - What's Next?

Kennametal Inc. (NYSE:KMT - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $17.35 and last traded at $17.53, with a volume of 1369271 shares. The stock had previously closed at $18.04.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KMT. Morgan Stanley dropped their price objective on shares of Kennametal from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. StockNews.com downgraded Kennametal from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Finally, Barclays reduced their price target on shares of Kennametal from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.00.

Kennametal Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The stock's fifty day moving average is $21.35 and its two-hundred day moving average is $24.32. The firm 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 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 forecast that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.21%. Kennametal's payout ratio is currently 65.57%.

Insider Buying and Selling at Kennametal

In related news, CEO Sanjay Chowbey bought 10,000 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares of the company's stock, valued at $1,687,691.25. This represents a 14.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.41% of the stock is currently owned by insiders.

Institutional Trading of Kennametal

Several hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kennametal in the third quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after acquiring an additional 716 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 in the last quarter. Curat Global LLC acquired a new position in shares of Kennametal during the first quarter valued at $35,000. Finally, Parallel Advisors LLC raised its stake in shares of Kennametal by 107.6% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 1,015 shares in the last quarter.

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.