Brokerages Set Kennametal Inc. (NYSE:KMT) PT at $24.33

Kennametal Inc. (NYSE:KMT - Get Free Report) has received an average rating of "Reduce" from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $24.33.

Several research analysts have weighed in on KMT shares. Loop Capital upped their price objective on shares of Kennametal from $22.00 to $24.00 and gave the company a "hold" rating in a research note on Thursday, August 22nd. Barclays increased their price objective on Kennametal from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. StockNews.com upgraded Kennametal from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Bank of America downgraded Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price target for the company. in a research note on Friday.

Kennametal Stock Down 1.7 %

Shares of Kennametal stock traded down $0.44 during midday trading on Friday, hitting $25.71. The company's stock had a trading volume of 1,206,338 shares, compared to its average volume of 674,074. Kennametal has a 1-year low of $22.08 and a 1-year high of $27.04. The company has a quick ratio of 1.17, a current ratio of 2.41 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.02 billion, a P/E ratio of 19.04, a PEG ratio of 2.65 and a beta of 1.65. The stock has a 50-day simple moving average of $25.34 and a 200-day simple moving average of $24.79.

Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.05. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The firm had revenue of $543.31 million during the quarter, compared to analyst estimates of $532.72 million. During the same period last year, the company posted $0.51 EPS. The business's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts expect that Kennametal will post 1.51 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 annualized dividend and a yield of 3.11%. Kennametal's dividend payout ratio (DPR) is currently 59.26%.

Institutional Trading of Kennametal

Several large investors have recently made changes to their positions in the stock. Azarias Capital Management L.P. acquired a new stake in Kennametal in the 1st quarter worth approximately $4,795,000. BNP Paribas Financial Markets boosted its holdings in shares of Kennametal by 85.3% during the 1st quarter. BNP Paribas Financial Markets now owns 87,340 shares of the industrial products company's stock worth $2,178,000 after buying an additional 40,193 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Kennametal during the 1st quarter worth $324,000. Easterly Investment Partners LLC grew its stake in Kennametal by 39.8% in the 1st quarter. Easterly Investment Partners LLC now owns 32,172 shares of the industrial products company's stock valued at $802,000 after buying an additional 9,166 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in Kennametal by 0.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company's stock worth $1,730,000 after acquiring an additional 610 shares during the period.

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.