Kennametal (NYSE:KMT) had its price objective upped by investment analysts at Stifel Nicolaus from $50.00 to $52.00 in a research report issued on Sunday, February 4th. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 20.93% from the company’s previous close.
A number of other brokerages have also recently commented on KMT. Jefferies Group restated a “buy” rating and issued a $50.00 price target on shares of Kennametal in a research report on Friday, October 20th. KeyCorp restated a “buy” rating and issued a $56.00 price target on shares of Kennametal in a research report on Wednesday, January 10th. Zacks Investment Research cut Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. BMO Capital Markets restated a “hold” rating and issued a $45.00 price target on shares of Kennametal in a research report on Friday, October 20th. 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 research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $50.25.
Kennametal (NYSE:KMT) opened at $43.00 on Friday. The company has a current ratio of 2.77, a quick ratio of 1.52 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3,469.32, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.99 and a beta of 1.95. Kennametal has a 12-month low of $32.23 and a 12-month high of $52.52.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $571.00 million for the quarter, compared to the consensus estimate of $541.78 million. Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. sell-side analysts forecast that Kennametal will post 2.57 earnings per share for the current fiscal year.
In related news, Director Timothy R. Mclevish sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total value of $960,000.00. Following the sale, the director now directly owns 66,904 shares of the company’s stock, valued at $3,211,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $329,000.00. Following the completion of the sale, 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 45,125 shares of company stock worth $2,140,875 over the last ninety days. 2.00% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Kennametal by 1.8% in the fourth quarter. BlackRock Inc. now owns 8,524,732 shares of the industrial products company’s stock valued at $412,683,000 after buying an additional 150,707 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Kennametal by 18.0% during the second quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after purchasing an additional 1,263,163 shares in the last quarter. State Street Corp boosted its stake in shares of Kennametal by 4.4% during the second quarter. State Street Corp now owns 2,653,399 shares of the industrial products company’s stock valued at $99,287,000 after purchasing an additional 112,547 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Kennametal by 3.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,612,672 shares of the industrial products company’s stock valued at $126,479,000 after purchasing an additional 75,468 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Kennametal by 23.3% during the third quarter. Janus Henderson Group PLC now owns 2,509,518 shares of the industrial products company’s stock valued at $101,234,000 after purchasing an additional 474,225 shares in the last quarter. 98.47% of the stock is currently owned by institutional investors and hedge funds.
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Kennametal Company Profile
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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