Kennametal Inc. (NYSE:KMT) Given Consensus Rating of “Reduce” by Analysts

Kennametal Inc. (NYSE:KMT) has been given an average recommendation of “Reduce” by the six ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $26.17.

KMT has been the subject of a number of analyst reports. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital upped their price objective on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a research report on Friday, October 18th. Finally, Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th.

Insider Activity at Kennametal

In other Kennametal news, VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the sale, the vice president now directly owns 1,642 shares of the company’s stock, valued at approximately $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Franklin Cardenas sold 20,470 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the sale, the vice president now owns 39,581 shares in the company, valued at $1,117,767.44. This represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Kennametal

A number of institutional investors have recently bought and sold shares of the business. Quarry LP boosted 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 purchasing an additional 704 shares during the period. Canada Pension Plan Investment Board purchased a new position in Kennametal during the second quarter valued at approximately $28,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Kennametal during the 3rd quarter valued at $30,000. Quest Partners LLC acquired a new position in shares of Kennametal in the second quarter worth $44,000. Finally, Signaturefd LLC raised its holdings in shares of Kennametal by 98.7% during the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,008 shares in the last quarter.

Kennametal Price Performance

KMT opened at $26.68 on Monday. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.29 and a beta of 1.65. Kennametal has a fifty-two week low of $22.50 and a fifty-two week high of $32.18. The company’s 50-day moving average price is $27.16 and its 200 day moving average price is $25.59. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. Kennametal’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. As a group, sell-side analysts expect that Kennametal will post 1.44 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.80 annualized dividend and a dividend yield of 3.00%. Kennametal’s dividend payout ratio is currently 62.50%.

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.