Kennametal Inc. (NYSE:KMT) – Seaport Global Securities dropped their FY2019 earnings estimates for shares of Kennametal in a report released on Wednesday, June 12th. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings of $3.06 per share for the year, down from their previous estimate of $3.09. Seaport Global Securities also issued estimates for Kennametal’s Q4 2019 earnings at $0.88 EPS and FY2021 earnings at $3.81 EPS.
Several other research firms have also recently commented on KMT. ValuEngine upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Zacks Investment Research cut shares of Kennametal from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. KeyCorp lowered their price target on shares of Kennametal from $52.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Bank of America restated an “underperform” rating and set a $34.00 price target on shares of Kennametal in a report on Thursday. Finally, Barclays upgraded shares of Kennametal from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $38.00 to $44.00 in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $45.88.
Kennametal stock opened at $33.40 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 2.70. Kennametal has a 12 month low of $30.32 and a 12 month high of $45.10. The firm has a market cap of $2.73 billion, a PE ratio of 10.88, a P/E/G ratio of 1.30 and a beta of 2.20.
Kennametal (NYSE:KMT) last posted its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). Kennametal had a net margin of 10.28% and a return on equity of 19.66%. The company had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $626.27 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Tuesday, May 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Monday, May 13th. Kennametal’s dividend payout ratio is presently 30.19%.
In related news, Director Lawrence W. Stranghoener sold 7,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $31.98, for a total value of $223,860.00. Following the completion of the sale, the director now directly owns 26,108 shares in the company, valued at $834,933.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
Large investors have recently modified their holdings of the stock. South Dakota Investment Council boosted its holdings in Kennametal by 91.6% in the first quarter. South Dakota Investment Council now owns 83,350 shares of the industrial products company’s stock worth $3,063,000 after purchasing an additional 39,850 shares in the last quarter. Rhumbline Advisers boosted its holdings in Kennametal by 72.8% during the fourth quarter. Rhumbline Advisers now owns 254,888 shares of the industrial products company’s stock valued at $8,483,000 after acquiring an additional 107,398 shares during the period. Private Harbour Investment Management & Counsel LLC bought a new stake in Kennametal during the first quarter valued at about $362,000. LSV Asset Management boosted its holdings in Kennametal by 93.1% during the fourth quarter. LSV Asset Management now owns 133,071 shares of the industrial products company’s stock valued at $4,428,000 after acquiring an additional 64,171 shares during the period. Finally, Foundry Partners LLC boosted its holdings in Kennametal by 6.7% during the first quarter. Foundry Partners LLC now owns 327,666 shares of the industrial products company’s stock valued at $12,042,000 after acquiring an additional 20,687 shares during the period. Hedge funds and other institutional investors own 99.02% of the company’s stock.
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.
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