Kennametal (KMT) Lowered to “Hold” at ValuEngine

Kennametal (NYSE:KMT) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also recently commented on KMT. BidaskClub cut shares of Kennametal from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut shares of Kennametal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reissued a “hold” rating on shares of Kennametal in a research note on Friday, August 4th. Wells Fargo & Company raised shares of Kennametal from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $26.10 to $43.50 in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co raised shares of Kennametal from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $43.00 in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Kennametal presently has a consensus rating of “Hold” and an average target price of $45.23.

Shares of Kennametal (KMT) opened at $46.58 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. The firm has a market cap of $3,775.22, a P/E ratio of 23.89, a P/E/G ratio of 2.20 and a beta of 1.98. Kennametal has a twelve month low of $31.12 and a twelve month high of $48.89.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.17. The business had revenue of $542.45 million for the quarter, compared to analyst estimates of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. Kennametal’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. analysts forecast that Kennametal will post 2.54 earnings per share for the current fiscal year.

In other Kennametal news, Director Steven H. Wunning sold 4,445 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $46.63, for a total value of $207,270.35. Following the completion of the transaction, the director now directly owns 29,693 shares in the company, valued at approximately $1,384,584.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Clemens sold 10,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $46.82, for a total transaction of $468,200.00. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Several institutional investors have recently modified their holdings of KMT. Janus Henderson Group PLC bought a new position in shares of Kennametal in the 2nd quarter worth about $76,161,000. Vanguard Group Inc. grew its position in Kennametal by 18.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after purchasing an additional 1,263,163 shares during the last quarter. American Century Companies Inc. grew its position in Kennametal by 69.6% during the 2nd quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock valued at $63,969,000 after purchasing an additional 701,783 shares during the last quarter. Alliancebernstein L.P. grew its position in Kennametal by 48.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock valued at $57,758,000 after purchasing an additional 501,090 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Kennametal by 131.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 841,647 shares of the industrial products company’s stock valued at $31,494,000 after purchasing an additional 478,446 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

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Kennametal Company Profile

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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Analyst Recommendations for Kennametal (NYSE:KMT)

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