Kennametal (NYSE:KMT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a buy rating in a research note published on Tuesday morning.

A number of other brokerages also recently issued reports on KMT. Loop Capital increased their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock a hold rating in a research note on Thursday, August 22nd. Barclays increased their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an equal weight rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Kennametal has a consensus rating of Hold and an average target price of $24.17.

Kennametal Stock Up 0.8 %

Shares of KMT opened at $25.37 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. Kennametal has a 12 month low of $22.08 and a 12 month high of $27.04. The firm’s 50 day moving average is $25.25 and its 200-day moving average is $24.70. The stock has a market capitalization of $2.00 billion, a PE ratio of 18.63, a P/E/G ratio of 2.71 and a beta of 1.65.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The firm had revenue of $543.31 million during the quarter, compared to analysts’ expectations of $532.72 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. Equities research analysts forecast that Kennametal will post 1.51 EPS for the current year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.15%. Kennametal’s dividend payout ratio is currently 59.26%.

Institutional Trading of Kennametal

A number of large investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp grew its holdings in Kennametal by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock valued at $1,730,000 after purchasing an additional 610 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of Kennametal by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 45,515 shares of the industrial products company’s stock worth $1,135,000 after acquiring an additional 684 shares during the period. Quarry LP increased its holdings in Kennametal by 198.9% in the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 704 shares during the last quarter. ProShare Advisors LLC raised its stake in Kennametal by 6.2% in the 1st quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 945 shares during the period. Finally, CWM LLC lifted its holdings in Kennametal by 46.7% during the second quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 970 shares during the last quarter.

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.