Kennametal (NYSE:KMT) Stock Rating Lowered by StockNews.com

Kennametal (NYSE:KMT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley reduced their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Barclays cut their price target on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.00.

Kennametal Stock Down 4.2 %

Shares of KMT opened at $18.29 on Wednesday. Kennametal has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The firm has a market capitalization of $1.41 billion, a P/E ratio of 14.99, a P/E/G ratio of 3.69 and a beta of 1.55. The company has a 50-day simple moving average of $21.44 and a 200-day simple moving average of $24.38.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. On average, equities research analysts expect that Kennametal will post 1.17 earnings per share for the current year.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. This represents a 14.79 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in Kennametal in the third quarter worth approximately $30,000. Blue Trust Inc. grew its holdings in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 716 shares during the period. GAMMA Investing LLC raised its stake in shares of Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 459 shares during the period. Parallel Advisors LLC boosted its position in shares of Kennametal by 107.6% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 1,015 shares during the period. Finally, Headlands Technologies LLC increased its holdings in Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 1,444 shares during the last quarter.

About Kennametal

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.