Kennametal Inc. (NYSE:KMT) – Barrington Research issued their FY2018 earnings per share (EPS) estimates for Kennametal in a report released on Thursday. Barrington Research analyst M. Gall anticipates that the industrial products company will post earnings of $2.48 per share for the year. Barrington Research currently has a “Outperform” rating and a $53.00 price target on the stock.
Other research analysts have also issued research reports about the stock. TheStreet upgraded shares of Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. Jefferies Group reiterated a “buy” rating and set a $60.00 price target on shares of Kennametal in a research report on Thursday, January 18th. KeyCorp reiterated a “buy” rating and set a $56.00 price target on shares of Kennametal in a research report on Wednesday, January 10th. ValuEngine upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus increased their price target on shares of Kennametal from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Sunday, February 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $50.25.
Kennametal (NYSE:KMT) last announced its earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The business had revenue of $571.00 million for the quarter, compared to analyst estimates of $541.78 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis.
Institutional investors have recently modified their holdings of the business. Fortaleza Asset Management Inc. acquired a new stake in Kennametal in the third quarter valued at approximately $115,000. Hartford Investment Management Co. acquired a new stake in Kennametal in the third quarter valued at approximately $202,000. World Asset Management Inc acquired a new stake in Kennametal in the third quarter valued at approximately $207,000. Trexquant Investment LP acquired a new stake in Kennametal in the third quarter valued at approximately $207,000. Finally, Koch Industries Inc. acquired a new stake in Kennametal in the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.
In other Kennametal news, VP Judith L. Bacchus sold 18,125 shares of the firm’s 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 $851,875.00. Following the sale, the vice president now owns 38,528 shares in the company, valued at $1,810,816. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy R. Mclevish sold 7,000 shares of the firm’s 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 completion of the sale, the director now owns 78,904 shares in the company, valued at approximately $3,708,488. The disclosure for this sale can be found here. Insiders have sold a total of 45,125 shares of company stock worth $2,140,875 in the last quarter. 2.00% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, February 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.88%. Kennametal’s dividend payout ratio is 45.45%.
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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