Kennametal Inc. (NYSE:KMT) – Analysts at KeyCorp reduced their Q2 2020 earnings per share (EPS) estimates for shares of Kennametal in a report released on Tuesday, November 5th. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings per share of $0.22 for the quarter, down from their previous forecast of $0.52. KeyCorp also issued estimates for Kennametal’s Q3 2020 earnings at $0.60 EPS, Q4 2020 earnings at $0.81 EPS, FY2020 earnings at $1.80 EPS, Q1 2021 earnings at $0.39 EPS, Q2 2021 earnings at $0.53 EPS, Q3 2021 earnings at $0.66 EPS, Q4 2021 earnings at $0.81 EPS and FY2021 earnings at $2.39 EPS.
Several other research firms have also recently issued reports on KMT. Zacks Investment Research cut Kennametal from a “hold” rating to a “sell” rating and set a $30.00 price objective on the stock. in a report on Thursday, October 10th. Goldman Sachs Group cut Kennametal from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $43.00 to $30.00 in a report on Tuesday, July 16th. BMO Capital Markets lowered their price objective on Kennametal from $30.50 to $25.00 and set a “market perform” rating on the stock in a report on Tuesday, October 22nd. Wells Fargo & Co lowered their price objective on Kennametal from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Finally, ValuEngine upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.75.
Shares of Kennametal stock traded down $0.57 on Friday, hitting $34.00. The company’s stock had a trading volume of 453,283 shares, compared to its average volume of 800,553. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.34 and a current ratio of 2.54. Kennametal has a 1 year low of $27.49 and a 1 year high of $43.98. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 2.23 and a beta of 2.28. The firm has a fifty day moving average price of $30.81 and a 200-day moving average price of $32.85.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Kennametal had a return on equity of 15.40% and a net margin of 8.31%. The firm had revenue of $518.09 million during the quarter, compared to analyst estimates of $517.49 million. During the same quarter in the previous year, the business earned $0.70 EPS. Kennametal’s revenue for the quarter was down 11.7% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Kennametal by 14.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,285,103 shares of the industrial products company’s stock worth $39,504,000 after purchasing an additional 157,464 shares during the last quarter. SG Americas Securities LLC acquired a new position in Kennametal in the third quarter valued at approximately $590,000. First Trust Advisors LP lifted its holdings in Kennametal by 22.2% in the third quarter. First Trust Advisors LP now owns 102,981 shares of the industrial products company’s stock valued at $3,166,000 after acquiring an additional 18,739 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in Kennametal by 30.1% in the third quarter. First Mercantile Trust Co. now owns 4,597 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 1,063 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Kennametal by 2.2% in the third quarter. Gamco Investors INC. ET AL now owns 406,158 shares of the industrial products company’s stock valued at $12,485,000 after acquiring an additional 8,721 shares during the last quarter. Institutional investors and hedge funds own 98.05% of the company’s stock.
In other news, Director Cindy L. Davis sold 4,644 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $34.15, for a total transaction of $158,592.60. Following the transaction, the director now directly owns 11,529 shares in the company, valued at approximately $393,715.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.48% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, November 8th. Kennametal’s dividend payout ratio is currently 26.49%.
Kennametal Company Profile
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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