Kennametal Inc. (NYSE:KMT) Receives Average Recommendation of "Reduce" from Analysts

Kennametal Inc. (NYSE:KMT - Get Free Report) has been given an average rating of "Reduce" by the five analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $25.40.

Several equities analysts have recently commented on KMT shares. Loop Capital restated a "hold" rating and issued a $24.00 price objective (up from $21.00) on shares of Kennametal in a report on Wednesday. Morgan Stanley upped their price objective on shares of Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Barclays upped their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th.

Kennametal Stock Performance

NYSE:KMT opened at $23.28 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.10. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 3.09 and a beta of 1.40. The company's 50-day moving average is $21.14 and its two-hundred day moving average is $22.11. Kennametal has a 1-year low of $17.30 and a 1-year high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.21. The company had revenue of $486.40 million for the quarter, compared to analyst estimates of $489.30 million. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. Kennametal's revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. Analysts forecast that Kennametal will post 1.17 EPS 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 $0.20 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.44%. Kennametal's payout ratio is 57.55%.

Institutional Investors Weigh In On Kennametal

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SummerHaven Investment Management LLC raised its holdings in shares of Kennametal by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 34,150 shares of the industrial products company's stock valued at $727,000 after purchasing an additional 600 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Kennametal by 1.8% in the 4th quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock valued at $831,000 after purchasing an additional 609 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Kennametal by 10.5% in the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 898 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Kennametal by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,294 shares of the industrial products company's stock valued at $1,064,000 after buying an additional 934 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Kennametal by 107.6% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock valued at $42,000 after buying an additional 1,015 shares during the last quarter.

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.

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