Kennametal Inc. (NYSE:KMT – Get Rating) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $26.71.
KMT has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 8th. Loop Capital lifted their price target on shares of Kennametal from $22.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, February 9th. Barclays lifted their price target on shares of Kennametal from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 8th. Finally, StockNews.com started coverage on shares of Kennametal in a report on Thursday, March 16th. They set a “buy” rating for the company.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Maryland State Retirement & Pension System acquired a new position in Kennametal during the 1st quarter valued at about $894,000. Louisiana State Employees Retirement System raised its position in shares of Kennametal by 73.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 37,500 shares of the industrial products company’s stock worth $1,034,000 after buying an additional 15,900 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Kennametal by 388.7% during the 1st quarter. State of Alaska Department of Revenue now owns 55,144 shares of the industrial products company’s stock worth $1,520,000 after buying an additional 43,861 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Kennametal by 17.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,340 shares of the industrial products company’s stock worth $147,000 after buying an additional 780 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its position in shares of Kennametal by 1.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 33,969 shares of the industrial products company’s stock worth $937,000 after buying an additional 612 shares in the last quarter.
Kennametal Stock Down 0.4 %
Shares of KMT opened at $26.29 on Friday. The firm has a market cap of $2.12 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 3.68 and a beta of 1.88. The company’s fifty day moving average is $27.31 and its two-hundred day moving average is $26.18. Kennametal has a fifty-two week low of $20.21 and a fifty-two week high of $30.60. The company has a quick ratio of 0.90, a current ratio of 2.12 and a debt-to-equity ratio of 0.46.
Kennametal (NYSE:KMT – Get Rating) last issued its earnings results on Monday, February 6th. The industrial products company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Kennametal had a net margin of 6.25% and a return on equity of 10.26%. The business had revenue of $497.00 million for the quarter, compared to the consensus estimate of $491.88 million. During the same quarter last year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts forecast that Kennametal will post 1.43 earnings per share for the current year.
Kennametal Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, February 13th. Kennametal’s dividend payout ratio (DPR) is presently 52.29%.
About Kennametal
Kennametal, Inc engages in the development and application of tungsten carbides, ceramics, and solutions used in metal cutting and extreme wear applications. It operates through the following segments: Metal Cutting and Infrastructure. The Metal Cutting segment develops and manufactures tooling and metal cutting products and services and offers an assortment of standard and custom metal cutting solutions to diverse end markets, including aerospace, general engineering, energy and transportation.
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