Kennametal Inc. (NYSE:KMT) saw a significant growth in short interest in November. As of November 29th, there was short interest totalling 3,830,000 shares, a growth of 7.3% from the November 14th total of 3,570,000 shares. Based on an average daily trading volume, of 972,000 shares, the short-interest ratio is presently 3.9 days. Approximately 4.8% of the shares of the stock are sold short.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Kennametal from a “hold” rating to a “sell” rating and set a $30.00 price target for the company. in a research report on Thursday, October 10th. Longbow Research downgraded Kennametal from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. ValuEngine downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Co dropped their price target on Kennametal from $34.00 to $32.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Finally, BMO Capital Markets dropped their price target on Kennametal from $30.50 to $25.00 and set a “market perform” rating for the company in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $34.63.
Shares of KMT stock traded down $0.48 during mid-day trading on Friday, hitting $37.40. 753,911 shares of the company’s stock were exchanged, compared to its average volume of 695,072. Kennametal has a fifty-two week low of $27.49 and a fifty-two week high of $42.03. The stock has a 50-day simple moving average of $34.12 and a two-hundred day simple moving average of $32.38. The company has a quick ratio of 1.21, a current ratio of 2.54 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.47 and a beta of 2.32.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Kennametal had a return on equity of 15.40% and a net margin of 8.31%. The business had revenue of $518.09 million for the quarter, compared to analysts’ expectations of $517.49 million. During the same quarter last year, the firm earned $0.70 earnings per share. The business’s revenue was down 11.7% on a year-over-year basis. As a group, analysts anticipate that Kennametal will post 1.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, November 8th. Kennametal’s dividend payout ratio (DPR) is 26.49%.
In other Kennametal news, VP Ronald L. Port sold 1,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $34.12, for a total transaction of $51,180.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.48% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of Kennametal during the second quarter worth $31,000. Tower Research Capital LLC TRC acquired a new stake in shares of Kennametal during the second quarter worth $52,000. Quadrant Capital Group LLC boosted its holdings in shares of Kennametal by 61.0% during the third quarter. Quadrant Capital Group LLC now owns 1,939 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 735 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Kennametal during the second quarter worth $72,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Kennametal during the second quarter worth $100,000. Institutional investors and hedge funds own 96.42% of the company’s stock.
Kennametal Company Profile
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.
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