Kennametal Inc. (NYSE:KMT) – Equities researchers at Barrington Research dropped their Q1 2017 earnings per share (EPS) estimates for shares of Kennametal in a research report issued to clients and investors on Monday. Barrington Research analyst R. Hokanson now forecasts that the firm will post earnings per share of $0.11 for the quarter, down from their prior forecast of $0.15. Barrington Research currently has a “Outperform” rating and a $31.00 target price on the stock.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Kennametal had a positive return on equity of 7.51% and a negative net margin of 10.77%. The business had revenue of $521.20 million for the quarter, compared to the consensus estimate of $519.51 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. Kennametal’s revenue for the quarter was down 18.3% on a year-over-year basis.

Several other equities research analysts also recently weighed in on the stock. Bank of America Corp. downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating in a research report on Thursday, July 7th. Zacks Investment Research raised shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Seaport Global Securities downgraded shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Thursday, August 18th. Credit Suisse Group AG reissued a “hold” rating and set a $23.00 price target on shares of Kennametal in a research report on Tuesday, August 2nd. Finally, Jefferies Group reissued a “buy” rating and set a $30.00 price target on shares of Kennametal in a research report on Sunday, July 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Kennametal currently has a consensus rating of “Hold” and a consensus target price of C$24.44.

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Shares of Kennametal (NYSE:KMT) traded up 0.76% during midday trading on Tuesday, reaching $27.67. 526,761 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $27.80 and a 200-day moving average of $24.43. Kennametal has a one year low of $15.11 and a one year high of $29.45. The stock’s market cap is $2.21 billion.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Wednesday, August 10th. Kennametal’s dividend payout ratio is presently -28.27%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Kennametal by 660.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 104,557 shares of the company’s stock valued at $2,312,000 after buying an additional 90,812 shares in the last quarter. Mason Street Advisors LLC acquired a new position in shares of Kennametal during the second quarter valued at $803,000. Sterling Capital Management LLC acquired a new position in shares of Kennametal during the second quarter valued at $504,000. Schwab Charles Investment Management Inc. boosted its position in shares of Kennametal by 145.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 540,245 shares of the company’s stock valued at $11,945,000 after buying an additional 320,286 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Kennametal by 2.4% in the second quarter. Amalgamated Bank now owns 9,816 shares of the company’s stock valued at $283,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

Kennametal Company Profile

Kennametal Inc (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.

5 Day Chart for NYSE:KMT

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