Kennametal (NYSE:KMT) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday, February 5th, MarketBeat.com reports.
Other equities analysts have also issued reports about the stock. KeyCorp restated a “buy” rating and issued a $56.00 price objective on shares of Kennametal in a report on Wednesday, January 10th. Zacks Investment Research lowered shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Stifel Nicolaus increased their price objective on shares of Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Sunday, February 4th. BMO Capital Markets reissued a “hold” rating and set a $45.00 price objective on shares of Kennametal in a research report on Friday, October 20th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $50.00 target price on shares of Kennametal in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.25.
Shares of Kennametal (NYSE:KMT) traded up $0.11 during trading on Monday, reaching $42.64. 319,598 shares of the company’s stock traded hands, compared to its average volume of 1,176,826. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.77 and a quick ratio of 1.52. The company has a market capitalization of $3,390.00, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.99 and a beta of 1.94. Kennametal has a 1 year low of $32.23 and a 1 year high of $52.52.
Kennametal (NYSE:KMT) last announced its earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The company had revenue of $571.00 million for the quarter, compared to analyst estimates of $541.78 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. Kennametal’s revenue for the quarter was up 17.0% on a year-over-year basis. equities analysts expect that Kennametal will post 2.57 EPS for the current fiscal year.
In other Kennametal news, Director Timothy R. Mclevish sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $48.00, for a total value of $960,000.00. Following the transaction, the director now directly owns 66,904 shares of the company’s stock, valued at approximately $3,211,392. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy R. Mclevish sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $329,000.00. Following the completion of the transaction, the director now directly owns 78,904 shares in the company, valued at $3,708,488. The disclosure for this sale can be found here. Insiders sold a total of 45,125 shares of company stock valued at $2,140,875 in the last quarter. Corporate insiders own 2.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in KMT. Fortaleza Asset Management Inc. bought a new stake in shares of Kennametal during the 3rd quarter valued at approximately $115,000. Hartford Investment Management Co. bought a new stake in Kennametal during the 3rd quarter worth approximately $202,000. World Asset Management Inc bought a new stake in Kennametal during the 3rd quarter worth approximately $207,000. Trexquant Investment LP bought a new stake in Kennametal during the 3rd quarter worth approximately $207,000. Finally, Koch Industries Inc. bought a new stake in Kennametal during the 2nd quarter worth approximately $211,000. 98.47% of the stock is currently owned by institutional investors.
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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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