Kennametal (NYSE:KMT) Sets New 1-Year Low – Time to Sell?

Kennametal Inc. (NYSE:KMT)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $19.96 and last traded at $20.00, with a volume of 251745 shares. The stock had previously closed at $21.94.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Barclays lowered their target price on Kennametal from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, Morgan Stanley decreased their target price on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.40.

Kennametal Trading Down 3.7 %

The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. 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 fifty day moving average of $22.11 and a two-hundred day moving average of $24.70.

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

Kennametal Dividend Announcement

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 $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.19%. Kennametal’s payout ratio is presently 65.57%.

Insider Activity at Kennametal

In other Kennametal news, CEO Sanjay Chowbey purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 bought and sold shares of the stock. FMR LLC grew its position in Kennametal by 395.8% in the 3rd quarter. FMR LLC now owns 16,561 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 13,221 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Kennametal by 2.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 90,793 shares of the industrial products company’s stock valued at $2,354,000 after acquiring an additional 1,975 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kennametal by 1.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 171,373 shares of the industrial products company’s stock worth $4,444,000 after acquiring an additional 2,401 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Kennametal during the 3rd quarter worth approximately $1,117,000. Finally, Centiva Capital LP bought a new stake in shares of Kennametal during the third quarter valued at approximately $230,000.

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.