Kennametal Inc. (KMT) Given Average Rating of “Hold” by Brokerages
Shares of Kennametal Inc. (NYSE:KMT) have received a consensus rating of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $39.09.
KMT has been the topic of several research reports. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, April 13th. Jefferies Group LLC reissued a “buy” rating and set a $47.00 target price (up previously from $45.00) on shares of Kennametal in a research note on Friday, April 14th. BMO Capital Markets reissued a “hold” rating and set a $40.00 target price on shares of Kennametal in a research note on Thursday, April 20th. Stifel Nicolaus increased their target price on Kennametal from $38.00 to $44.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Finally, Barrington Research increased their target price on Kennametal from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th.
In other Kennametal news, Director Philip A. Dur sold 7,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $40.01, for a total value of $280,070.00. Following the sale, the director now owns 22,024 shares of the company’s stock, valued at approximately $881,180.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Judith L. Bacchus sold 9,168 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $41.89, for a total value of $384,047.52. Following the completion of the sale, the vice president now directly owns 16,767 shares in the company, valued at approximately $702,369.63. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Kennametal during the fourth quarter worth about $2,158,000. Norges Bank acquired a new stake in shares of Kennametal during the fourth quarter valued at $25,446,000. Quadrature Capital Ltd acquired a new stake in shares of Kennametal during the fourth quarter valued at $1,862,000. Teachers Advisors LLC raised its stake in shares of Kennametal by 333.3% in the fourth quarter. Teachers Advisors LLC now owns 606,301 shares of the industrial products company’s stock valued at $18,953,000 after buying an additional 466,365 shares during the period. Finally, Highbridge Capital Management LLC raised its stake in shares of Kennametal by 79.2% in the fourth quarter. Highbridge Capital Management LLC now owns 100,875 shares of the industrial products company’s stock valued at $3,154,000 after buying an additional 44,571 shares during the period. 97.02% of the stock is currently owned by institutional investors.
Kennametal (KMT) traded down 1.56% during mid-day trading on Friday, hitting $37.86. The company had a trading volume of 637,486 shares. Kennametal has a 52-week low of $23.75 and a 52-week high of $43.09. The company has a 50-day moving average price of $39.04 and a 200 day moving average price of $38.06. The company’s market capitalization is $3.05 billion.
Kennametal (NYSE:KMT) last posted its earnings results on Tuesday, April 25th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.16. Kennametal had a positive return on equity of 11.59% and a negative net margin of 2.09%. The firm had revenue of $528.60 million for the quarter, compared to analyst estimates of $511.79 million. During the same quarter in the prior year, the company earned $0.37 EPS. Kennametal’s revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Kennametal will post $1.59 EPS for the current fiscal year.
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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