Kennametal (NYSE:KMT) Given New $22.00 Price Target at Barclays

Kennametal (NYSE:KMT) had its price objective lowered by Barclays from $24.00 to $22.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Several other research analysts also recently commented on KMT. Morgan Stanley reduced their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.00.

Kennametal Stock Performance

Shares of NYSE:KMT opened at $18.29 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 3.69 and a beta of 1.55. Kennametal has a 12 month low of $17.30 and a 12 month high of $32.18. The firm’s 50-day moving average is $21.44 and its 200 day moving average is $24.38.

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

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.37%. Kennametal’s dividend payout ratio is presently 65.57%.

Insider Buying and Selling

In related news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the transaction, the chief executive officer now owns 77,595 shares in the company, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kennametal

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal in the 3rd quarter valued at about $30,000. Blue Trust Inc. boosted its stake in Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 716 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 last quarter. Parallel Advisors LLC increased its position 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 purchasing an additional 1,015 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 1,444 shares during the last quarter.

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.