Kennametal Inc. (KMT) Receives Average Recommendation of “Hold” from Analysts
Shares of Kennametal Inc. (NYSE:KMT) have been given a consensus recommendation of “Hold” by the fifteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $46.05.
Several equities research analysts have commented on KMT shares. Credit Suisse Group upped their target price on shares of Kennametal from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Wednesday, October 4th. Jefferies Group reissued a “buy” rating and issued a $50.00 target price on shares of Kennametal in a report on Friday, October 20th. BMO Capital Markets reissued a “hold” rating and issued a $45.00 target price on shares of Kennametal in a report on Friday, October 20th. Finally, TheStreet raised shares of Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd.
Shares of Kennametal (NYSE KMT) traded up $0.21 during trading hours on Monday, reaching $46.78. 1,403,700 shares of the company’s stock traded hands, compared to its average volume of 916,052. Kennametal has a 1 year low of $31.12 and a 1 year high of $48.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.71 and a quick ratio of 1.41. The company has a market capitalization of $3,870.00, a P/E ratio of 23.98, a PEG ratio of 2.21 and a beta of 1.98.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th were paid a $0.20 dividend. The ex-dividend date was Monday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.71%. Kennametal’s payout ratio is currently 59.26%.
In related news, Director Timothy R. Mclevish sold 7,000 shares of Kennametal stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $47.00, for a total transaction of $329,000.00. Following the sale, the director now directly owns 78,904 shares in the company, valued at approximately $3,708,488. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy R. Mclevish sold 20,000 shares of Kennametal stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the sale, the director now owns 66,904 shares in the company, valued at $3,211,392. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,570 shares of company stock worth $2,816,345. 2.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of KMT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Kennametal by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,756 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 42 shares during the last quarter. Affinity Wealth Management boosted its stake in Kennametal by 1.5% in the 2nd quarter. Affinity Wealth Management now owns 8,780 shares of the industrial products company’s stock worth $328,000 after purchasing an additional 130 shares during the period. PNC Financial Services Group Inc. boosted its stake in Kennametal by 1.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 16,606 shares of the industrial products company’s stock worth $622,000 after purchasing an additional 215 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Kennametal by 4.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,434 shares of the industrial products company’s stock valued at $241,000 after buying an additional 250 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Kennametal by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 98.67% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Kennametal Inc. (KMT) Receives Average Recommendation of “Hold” from Analysts” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/12/18/kennametal-inc-kmt-receives-average-recommendation-of-hold-from-analysts.html.
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.
Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.