Analysts Set Kennametal Inc. (NYSE:KMT) PT at $25.40

Shares of Kennametal Inc. (NYSE:KMT) have received an average recommendation of “Reduce” from the five ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $25.40.

A number of brokerages recently weighed in on KMT. Loop Capital restated a “hold” rating and set a $24.00 target price (up from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Wall Street Zen upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Barclays boosted their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Finally, Morgan Stanley boosted their target price on shares of Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th.

Kennametal Price Performance

NYSE KMT opened at $23.03 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. Kennametal has a 12-month low of $17.30 and a 12-month high of $32.18. The company has a market capitalization of $1.76 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 3.13 and a beta of 1.40. The firm’s 50 day moving average is $21.23 and its 200-day moving average is $22.02.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. The company had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was down 5.7% compared to the same quarter last year. Equities research analysts anticipate that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.80 annualized dividend and a yield of 3.47%. Kennametal’s payout ratio is 57.55%.

Institutional Trading of Kennametal

Hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC bought a new stake in Kennametal during the 1st quarter valued at $11,801,000. Cooper Haims Advisors LLC purchased a new position in shares of Kennametal in the 1st quarter worth about $7,453,000. Empowered Funds LLC purchased a new position in shares of Kennametal in the 1st quarter worth about $7,009,000. American Century Companies Inc. boosted its holdings in shares of Kennametal by 13.8% in the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock worth $61,106,000 after buying an additional 308,000 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Kennametal in the 4th quarter worth about $5,543,000.

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.