Kennametal Inc. (NYSE:KMT) Receives $25.40 Consensus Target Price from Analysts

Shares of Kennametal Inc. (NYSE:KMT - Get Free Report) have received an average rating of "Reduce" from the five brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.40.

Several equities analysts have issued reports on the company. Loop Capital reiterated a "hold" rating and set a $24.00 target price (up previously from $21.00) on shares of Kennametal in a research report on Wednesday, June 25th. Wall Street Zen raised Kennametal from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Morgan Stanley boosted their price target on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Barclays upped their target price on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th.

Institutional Trading of Kennametal

Institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of Kennametal by 17.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,242 shares of the industrial products company's stock worth $282,000 after buying an additional 2,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Kennametal by 32.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 469,202 shares of the industrial products company's stock worth $11,270,000 after purchasing an additional 115,718 shares during the period. Raymond James Financial Inc. purchased a new stake in Kennametal during the 4th quarter worth $373,000. GAMMA Investing LLC boosted its position in Kennametal by 699.1% during the 1st quarter. GAMMA Investing LLC now owns 11,651 shares of the industrial products company's stock worth $248,000 after purchasing an additional 10,193 shares during the period. Finally, Invesco Ltd. boosted its position in Kennametal by 4.1% during the 4th quarter. Invesco Ltd. now owns 426,083 shares of the industrial products company's stock worth $10,235,000 after purchasing an additional 16,926 shares during the period.

Kennametal Stock Performance

KMT stock traded down $0.28 during trading on Tuesday, hitting $24.96. The company had a trading volume of 17,116 shares, compared to its average volume of 1,018,821. The firm has a market cap of $1.90 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 3.46 and a beta of 1.40. Kennametal has a 1-year low of $17.30 and a 1-year high of $32.18. The firm has a 50-day moving average price of $22.87 and a 200-day moving average price of $22.01. The company has a quick ratio of 1.10, a current ratio of 2.44 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.21. Kennametal had a return on equity of 9.12% and a net margin of 5.45%. The company had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm's quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts expect that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.21%. Kennametal's payout ratio is 57.55%.

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.