Brokerages Set Kennametal Inc. (NYSE:KMT) PT at $24.33

Kennametal Inc. (NYSE:KMT) has been given an average recommendation of “Reduce” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $24.33.

Several equities analysts have weighed in on the company. Barclays increased their target price on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Loop Capital raised their price target on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research report on Friday, October 18th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Brandes Investment Partners LP grew its stake in Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after purchasing an additional 606,477 shares in the last quarter. American Century Companies Inc. grew its stake in Kennametal by 20.3% in the second quarter. American Century Companies Inc. now owns 1,903,714 shares of the industrial products company’s stock valued at $44,813,000 after purchasing an additional 321,876 shares in the last quarter. Interval Partners LP bought a new position in Kennametal in the second quarter valued at approximately $5,598,000. Azarias Capital Management L.P. bought a new position in Kennametal in the first quarter valued at approximately $4,795,000. Finally, International Assets Investment Management LLC grew its stake in Kennametal by 1,235.5% in the third quarter. International Assets Investment Management LLC now owns 126,645 shares of the industrial products company’s stock valued at $3,284,000 after purchasing an additional 117,162 shares in the last quarter.

Kennametal Trading Up 0.4 %

NYSE:KMT opened at $25.21 on Friday. Kennametal has a 1-year low of $22.08 and a 1-year high of $27.04. The business’s 50-day moving average price is $25.40 and its two-hundred day moving average price is $24.82. The company has a current ratio of 2.41, a quick ratio of 1.17 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.65 and a beta of 1.65.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The firm had revenue of $543.31 million for the quarter, compared to analyst estimates of $532.72 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts expect that Kennametal will post 1.51 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.17%. Kennametal’s payout ratio is presently 59.26%.

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.