Barrington Research Comments on Kennametal Inc.’s Q2 2017 Earnings (KMT)
Kennametal Inc. (NYSE:KMT) – Investment analysts at Barrington Research raised their Q2 2017 earnings per share (EPS) estimates for shares of Kennametal in a research note issued to investors on Monday. Barrington Research analyst R. Hokanson now expects that the firm will post earnings per share of $0.22 for the quarter, up from their prior estimate of $0.18. Barrington Research currently has a “Outperform” rating and a $31.00 price target on the stock.
Kennametal (NYSE:KMT) last announced its earnings results on Tuesday, August 2nd. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm earned $521.20 million during the quarter, compared to analyst estimates of $519.51 million. Kennametal had a negative net margin of 10.77% and a positive return on equity of 7.51%. The company’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS.
KMT has been the topic of a number of other research reports. Seaport Global Securities lowered shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Thursday, August 18th. Zacks Investment Research lowered shares of Kennametal from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Bank of America Corp. lowered shares of Kennametal from a “neutral” rating to an “underperform” rating in a report on Thursday, July 7th. Credit Suisse Group AG reiterated a “hold” rating and set a $23.00 price target on shares of Kennametal in a report on Tuesday, August 2nd. Finally, Jefferies Group reiterated a “buy” rating and set a $30.00 price target on shares of Kennametal in a report on Sunday, July 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of C$24.44.
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Shares of Kennametal (NYSE:KMT) traded up 2.00% during trading on Wednesday, reaching $28.11. 299,698 shares of the company were exchanged. The firm’s market cap is $2.24 billion. Kennametal has a 52-week low of $15.11 and a 52-week high of $29.45. The stock’s 50-day moving average is $27.88 and its 200-day moving average is $24.47.
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.90%. The ex-dividend date was Wednesday, August 10th. Kennametal’s dividend payout ratio (DPR) is currently -28.27%.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Kennametal by 13.4% in the second quarter. Vanguard Group Inc. now owns 6,420,796 shares of the company’s stock valued at $141,963,000 after buying an additional 758,339 shares during the period. BlackRock Fund Advisors increased its stake in Kennametal by 49.2% in the second quarter. BlackRock Fund Advisors now owns 3,947,916 shares of the company’s stock valued at $87,288,000 after buying an additional 1,301,505 shares during the period. State Street Corp increased its stake in Kennametal by 22.6% in the second quarter. State Street Corp now owns 2,536,276 shares of the company’s stock valued at $56,077,000 after buying an additional 466,723 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Kennametal by 6.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,382,074 shares of the company’s stock valued at $52,668,000 after buying an additional 138,375 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Kennametal by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,014,953 shares of the company’s stock valued at $44,548,000 after buying an additional 427,586 shares during the period. 97.92% of the stock is owned by hedge funds and other institutional investors.
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.
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