Analysts Set Kennametal Inc. (NYSE:KMT) Price Target at $25.20

Kennametal Inc. (NYSE:KMT) has received a consensus rating of “Reduce” from the five ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $25.80.

A number of equities analysts have issued reports on KMT shares. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, April 28th. Morgan Stanley lifted their target price on Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Barclays lifted their target price on Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday.

Kennametal Stock Down 1.9%

Shares of NYSE:KMT opened at $21.75 on Thursday. The business’s 50 day simple moving average is $20.25 and its two-hundred day simple moving average is $23.44. The firm has a market cap of $1.66 billion, a P/E ratio of 17.83, a PEG ratio of 3.69 and a beta of 1.39. 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 has a 52-week low of $17.30 and a 52-week high of $32.18.

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

Kennametal Dividend Announcement

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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Tuesday, May 13th. Kennametal’s dividend payout ratio (DPR) is currently 57.55%.

Institutional Trading of Kennametal

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Kennametal in the 3rd quarter worth about $30,000. Blue Trust Inc. increased its holdings in shares of Kennametal by 120.9% in the fourth 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 increased its holdings in shares of Kennametal by 45.9% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the period. Curat Global LLC bought a new position in shares of Kennametal in the first quarter worth $35,000. Finally, Parallel Advisors LLC increased its holdings in shares of Kennametal by 107.6% in the first 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.

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.