Kennametal (NYSE:KMT) had its price objective boosted by BMO Capital Markets from $45.00 to $52.00 in a research note issued to investors on Wednesday morning. BMO Capital Markets currently has a market perform rating on the industrial products company’s stock.
Other analysts also recently issued reports about the company. TheStreet raised Kennametal from a c+ rating to a b rating in a research report on Thursday, November 2nd. Jefferies Group reaffirmed a buy rating and issued a $50.00 price target on shares of Kennametal in a report on Friday, October 20th. Zacks Investment Research raised Kennametal from a hold rating to a buy rating and set a $46.00 price target for the company in a report on Wednesday, October 4th. ValuEngine lowered Kennametal from a buy rating to a hold rating in a report on Friday, December 1st. Finally, Credit Suisse Group raised their price target on Kennametal from $40.00 to $45.00 and gave the stock a neutral rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $45.86.
Shares of Kennametal (NYSE:KMT) opened at $46.78 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.71 and a quick ratio of 1.41. Kennametal has a 52-week low of $31.12 and a 52-week high of $48.91. The stock has a market capitalization of $3,789.80, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 2.21 and a beta of 1.98.
Kennametal (NYSE:KMT) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business had revenue of $542.45 million during the quarter, compared to the consensus estimate of $516.80 million. During the same period last year, the business posted $0.11 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. equities analysts predict that Kennametal will post 2.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, November 13th. Kennametal’s dividend payout ratio is 59.26%.
In related news, Director Timothy R. Mclevish sold 20,000 shares of Kennametal stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the completion of the sale, the director now owns 66,904 shares of the company’s stock, valued at $3,211,392. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert J. Clemens sold 10,000 shares of Kennametal stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $46.82, for a total value of $468,200.00. The disclosure for this sale can be found here. Insiders have sold 59,570 shares of company stock valued at $2,816,345 in the last three months. 2.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Kennametal by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,756 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 42 shares in the last quarter. Affinity Wealth Management raised its position in Kennametal by 1.5% during the second quarter. Affinity Wealth Management now owns 8,780 shares of the industrial products company’s stock valued at $328,000 after purchasing an additional 130 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Kennametal by 1.3% during the second quarter. PNC Financial Services Group Inc. now owns 16,606 shares of the industrial products company’s stock valued at $622,000 after purchasing an additional 215 shares in the last quarter. Teacher Retirement System of Texas raised its position in Kennametal by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 6,434 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 250 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Kennametal by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 272 shares in the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.
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Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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