Kennametal Inc. (NYSE:KMT) Given Consensus Recommendation of "Reduce" by Analysts

Shares of Kennametal Inc. (NYSE:KMT - Get Free Report) have been given a consensus rating of "Reduce" by the five research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $24.17.

Several research firms have issued reports on KMT. StockNews.com raised shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Tuesday, August 13th. Barclays lifted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, August 9th. Finally, Loop Capital upped their target price on Kennametal from $22.00 to $24.00 and gave the company a "hold" rating in a research report on Thursday, August 22nd.

Insider Buying and Selling

In other news, CEO Sanjay Chowbey acquired 5,000 shares of Kennametal stock in a transaction on Monday, June 10th. The stock was bought at an average price of $24.28 per share, for a total transaction of $121,400.00. Following the completion of the purchase, the chief executive officer now owns 49,270 shares in the company, valued at $1,196,275.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.61% of the company's stock.

Institutional Investors Weigh In On Kennametal

A number of hedge funds and other institutional investors have recently bought and sold shares of KMT. Quarry LP grew its holdings in shares of Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company's stock worth $25,000 after buying an additional 704 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Kennametal during the second quarter worth approximately $28,000. Signaturefd LLC increased its position in shares of Kennametal by 119.6% in the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company's stock worth $29,000 after purchasing an additional 603 shares during the last quarter. Headlands Technologies LLC bought a new stake in Kennametal in the first quarter valued at about $32,000. Finally, Quest Partners LLC bought a new position in Kennametal during the second quarter worth $44,000.

Kennametal Trading Up 0.4 %

Shares of Kennametal stock traded up $0.11 on Friday, reaching $25.87. The company had a trading volume of 756,621 shares, compared to its average volume of 668,756. The firm's 50-day moving average price is $24.50 and its two-hundred day moving average price is $24.59. Kennametal has a 1 year low of $22.08 and a 1 year high of $27.05. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 2.37 and a beta of 1.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.42 and a quick ratio of 1.09.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.05. Kennametal had a net margin of 5.29% and a return on equity of 9.35%. The business had revenue of $543.31 million for the quarter, compared to analysts' expectations of $532.72 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The business's revenue was down 1.3% compared to the same quarter last year. As a group, research analysts predict that Kennametal will post 1.45 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Tuesday, August 13th. Kennametal's dividend payout ratio is currently 59.26%.

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.