Kennametal Inc. (NYSE:KMT) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Kennametal Inc. (NYSE:KMT) have earned a consensus rating of “Reduce” from the five brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $27.00.

Several research analysts recently commented on the company. Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. Barclays dropped their price target on Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Morgan Stanley dropped their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Finally, Loop Capital lifted their price target on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 19th.

Insiders Place Their Bets

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was acquired at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the purchase, the chief executive officer now directly owns 77,595 shares in the company, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the sale, the vice president now directly owns 39,581 shares of the company’s stock, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.

Institutional Trading of Kennametal

Institutional investors and hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Kennametal during the third quarter valued at approximately $804,000. GAMMA Investing LLC raised its stake in shares of Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Kennametal by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock valued at $47,096,000 after acquiring an additional 17,265 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Kennametal by 113.7% during the third quarter. Jane Street Group LLC now owns 191,151 shares of the industrial products company’s stock valued at $4,957,000 after acquiring an additional 101,711 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Kennametal by 48.8% during the third quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company’s stock valued at $6,286,000 after acquiring an additional 79,547 shares in the last quarter.

Kennametal Trading Down 1.8 %

Shares of Kennametal stock opened at $22.24 on Friday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 3.67 and a beta of 1.66. The business has a 50-day moving average price of $23.79 and a 200-day moving average price of $25.40. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal has a twelve month low of $20.50 and a twelve month high of $32.18.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Equities research analysts anticipate that Kennametal will post 1.17 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.60%. The ex-dividend date is Tuesday, February 11th. Kennametal’s payout ratio is currently 65.57%.

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.