Kennametal Inc. (NYSE:KMT) Receives Average Rating of "Reduce" from Brokerages

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 Ratings reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $25.80.

Several research firms have weighed in on KMT. Barclays raised 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. Morgan Stanley lifted their target price on Kennametal from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a report on Friday, May 16th.

Kennametal Stock Down 1.2%

Shares of NYSE KMT traded down $0.26 during trading on Monday, reaching $21.27. The company had a trading volume of 801,764 shares, compared to its average volume of 884,834. Kennametal has a 12-month low of $17.30 and a 12-month high of $32.18. The stock has a market cap of $1.62 billion, a PE ratio of 17.43, a P/E/G ratio of 3.69 and a beta of 1.39. The business's 50-day moving average is $20.21 and its 200 day moving average is $22.87. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.26 by $0.21. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The company had revenue of $486.40 million for the quarter, compared to analysts' expectations of $489.30 million. During the same period last year, the firm posted $0.30 earnings per share. Kennametal's revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts forecast that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Tuesday, May 13th. Kennametal's dividend payout ratio is 57.55%.

Institutional Investors Weigh In On Kennametal

Several hedge funds have recently made changes to their positions in KMT. Bridgeway Capital Management LLC purchased a new stake in shares of Kennametal in the 1st quarter worth $11,801,000. Cooper Haims Advisors LLC acquired a new position in Kennametal during the 1st quarter valued at about $7,453,000. Empowered Funds LLC purchased a new stake in Kennametal during the 1st quarter valued at about $7,009,000. American Century Companies Inc. grew its stake in Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company's stock valued at $61,106,000 after purchasing an additional 308,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in Kennametal during the 4th quarter valued at about $5,543,000.

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.