Kennametal (NYSE:KMT) Upgraded by StockNews.com to Buy Rating

Kennametal (NYSE:KMT - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Monday.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley decreased their price target 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. Barclays dropped their price target 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.20.

Kennametal Trading Up 3.3 %

KMT traded up $0.64 during trading on Monday, reaching $20.17. 490,268 shares of the stock traded hands, compared to its average volume of 865,562. The stock's 50-day moving average is $20.45 and its 200 day moving average is $23.73. Kennametal has a 12 month low of $17.30 and a 12 month high of $32.18. 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 stock has a market capitalization of $1.56 billion, a PE ratio of 16.53, a P/E/G ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Equities analysts anticipate that Kennametal will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,595 shares in the company, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.41% of the company's stock.

Hedge Funds Weigh In On Kennametal

Several large investors have recently bought and sold shares of KMT. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 459 shares in the last quarter. SummerHaven Investment Management LLC grew its position in Kennametal by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 34,150 shares of the industrial products company's stock worth $727,000 after purchasing an additional 600 shares in the last quarter. Sei Investments Co. increased its stake in 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 buying an additional 609 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Kennametal by 3.8% during the 4th quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company's stock worth $445,000 after buying an additional 672 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of 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 buying an additional 716 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.