Kennametal (NYSE:KMT) Given New $20.00 Price Target at Morgan Stanley

Kennametal (NYSE:KMT) had its price objective trimmed by Morgan Stanley from $24.00 to $20.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on KMT. Barclays reduced their target price on Kennametal from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, Kennametal has an average rating of “Hold” and a consensus target price of $25.20.

Kennametal Trading Down 0.9 %

Shares of Kennametal stock opened at $18.64 on Wednesday. Kennametal has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The business’s fifty day moving average is $21.02 and its two-hundred day moving average is $24.10. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.44 billion, a PE ratio of 15.28, a P/E/G ratio of 3.69 and a beta of 1.55.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Analysts anticipate that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.29%. Kennametal’s payout ratio is currently 65.57%.

Insider Buying and Selling at Kennametal

In other news, CEO Sanjay Chowbey bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost 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 of the company’s stock, valued at $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kennametal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kennametal during the third quarter worth about $30,000. Blue Trust Inc. raised its position in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after buying an additional 459 shares during the last quarter. Curat Global LLC acquired a new stake in shares of Kennametal during the first quarter worth approximately $35,000. Finally, Parallel Advisors LLC increased its stake 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 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.