Kennametal Inc. (NYSE:KMT) Receives $25.40 Consensus PT from Brokerages

Kennametal Inc. (NYSE:KMT - Get Free Report) has received an average recommendation of "Reduce" from the five ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.40.

Several research firms have commented on KMT. Barclays upped their price target on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Loop Capital reissued a "hold" rating and issued a $24.00 price target (up previously from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Morgan Stanley increased their price objective on shares of Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th.

Kennametal Stock Performance

KMT traded down $0.01 during midday trading on Friday, reaching $22.98. The company's stock had a trading volume of 971,653 shares, compared to its average volume of 927,061. The company has a fifty day simple moving average of $21.32 and a 200 day simple moving average of $21.99. The stock has a market cap of $1.75 billion, a P/E ratio of 16.53, a PEG ratio of 3.13 and a beta of 1.40. The company has a current ratio of 2.44, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47. Kennametal has a twelve month low of $17.30 and a twelve month high of $32.18.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly 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. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. The firm had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. During the same period in the prior year, the firm earned $0.30 EPS. The business's revenue was down 5.7% on a year-over-year basis. Research analysts expect that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders 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 3.48%. Kennametal's payout ratio is presently 57.55%.

Institutional Investors Weigh In On Kennametal

Several large investors have recently made changes to their positions in KMT. SummerHaven Investment Management LLC lifted its holdings in Kennametal by 1.8% during 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 during the last quarter. Sei Investments Co. increased its holdings in shares of Kennametal by 1.8% during the fourth quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company's stock worth $831,000 after buying an additional 609 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Kennametal by 10.5% in the fourth quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 898 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 worth $1,064,000 after acquiring an additional 934 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Kennametal by 107.6% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company's stock worth $42,000 after acquiring 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.