Kennametal Inc. (NYSE:KMT) – Equities researchers at KeyCorp decreased their Q4 2018 earnings per share estimates for shares of Kennametal in a research note issued to investors on Monday. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $0.75 for the quarter, down from their prior estimate of $0.79. KeyCorp currently has a “Buy” rating and a $56.00 price objective on the stock. KeyCorp also issued estimates for Kennametal’s Q1 2019 earnings at $0.59 EPS and Q4 2019 earnings at $0.89 EPS.
KMT has been the topic of several other research reports. Bank of America lifted their target price on shares of Kennametal from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. ValuEngine cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. TheStreet raised shares of Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. Credit Suisse Group lifted their target price on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, BMO Capital Markets lifted their target price on shares of Kennametal from $45.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $50.25.
Kennametal (NYSE:KMT) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The company had revenue of $571.00 million for the quarter, compared to analyst estimates of $541.78 million. Kennametal had a net margin of 6.54% and a return on equity of 17.09%. Kennametal’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be issued a $0.20 dividend. The ex-dividend date is Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.85%. Kennametal’s dividend payout ratio (DPR) is presently 45.45%.
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 value of $329,000.00. Following the sale, the director now owns 78,904 shares of the company’s stock, valued at approximately $3,708,488. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the sale, the director now directly owns 66,904 shares in the company, valued at approximately $3,211,392. The disclosure for this sale can be found here. Insiders sold a total of 45,125 shares of company stock worth $2,140,875 in the last ninety days. 2.00% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. bought a new stake in shares of Kennametal in the 3rd quarter worth approximately $115,000. Hartford Investment Management Co. bought a new stake in shares of Kennametal in the 3rd quarter worth approximately $202,000. World Asset Management Inc bought a new stake in shares of Kennametal in the 3rd quarter worth approximately $207,000. Trexquant Investment LP bought a new stake in shares of Kennametal in the 3rd quarter worth approximately $207,000. Finally, Koch Industries Inc. bought a new stake in shares of Kennametal in the 2nd quarter worth approximately $211,000. 98.11% of the stock is currently owned by institutional investors.
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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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