Analysts Set Kennametal Inc. (NYSE:KMT) Price Target at $25.20

Kennametal Inc. (NYSE:KMT - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the five ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $25.20.

A number of equities research analysts have recently commented on KMT shares. Barclays cut their target price on Kennametal from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley reduced their price objective on shares of Kennametal from $24.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, StockNews.com upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research note on Monday, April 28th.

Kennametal Stock Up 0.1 %

Shares of NYSE:KMT traded up $0.02 during midday trading on Thursday, reaching $20.76. The company's stock had a trading volume of 773,510 shares, compared to its average volume of 870,164. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $20.25 and a 200-day moving average of $23.49. The firm has a market capitalization of $1.61 billion, a P/E ratio of 17.02, a PEG ratio of 3.69 and a beta of 1.39. Kennametal has a 12-month low of $17.30 and a 12-month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.21. The business had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The business's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. On average, research analysts anticipate that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Tuesday, May 13th. Kennametal's payout ratio is presently 65.57%.

Insider Activity

In other news, CEO Sanjay Chowbey bought 10,000 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were acquired at an average cost of $21.75 per share, with a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares of the company's stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kennametal

A number of institutional investors and hedge funds have recently made changes to their positions in KMT. Wilmington Savings Fund Society FSB bought a new position in Kennametal in the third quarter worth approximately $30,000. Blue Trust Inc. raised its holdings in Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company's stock worth $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC raised its holdings in Kennametal by 45.9% in the 4th 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 stake in Kennametal in the first quarter worth about $35,000. Finally, Parallel Advisors LLC raised its stake in shares of Kennametal by 107.6% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock worth $42,000 after buying an additional 1,015 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.