Kennametal (NYSE:KMT) Price Target Raised to $21.00

Kennametal (NYSE:KMT) had its price objective increased by Morgan Stanley from $20.00 to $21.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on KMT. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, April 28th. Barclays decreased their target price on Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Kennametal currently has a consensus rating of “Hold” and a consensus target price of $25.80.

Kennametal Trading Down 1.9%

Shares of NYSE KMT opened at $21.75 on Monday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.69 and a beta of 1.39. The business has a 50 day simple moving average of $20.25 and a 200 day simple moving average of $23.44. 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.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The firm had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $489.30 million. Kennametal had a return on equity of 8.12% and a net margin of 4.76%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, research analysts predict that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.68%. Kennametal’s dividend payout ratio (DPR) is presently 57.55%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KMT. Wilmington Savings Fund Society FSB acquired a new position in shares of Kennametal during the third quarter worth approximately $30,000. Blue Trust Inc. lifted its holdings in shares of Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after buying an additional 459 shares during the last quarter. Curat Global LLC acquired a new position in shares of Kennametal during the first quarter worth approximately $35,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Kennametal by 107.6% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the industrial products company’s stock worth $42,000 after buying an additional 1,015 shares during the last quarter.

Kennametal Company Profile

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.