Jefferies Group reaffirmed their buy rating on shares of Kennametal (NYSE:KMT) in a research report released on Thursday morning. Jefferies Group currently has a $60.00 target price on the industrial products company’s stock.
Several other research analysts have also weighed in on the company. KeyCorp reissued a buy rating and issued a $56.00 price objective on shares of Kennametal in a research report on Wednesday, January 10th. BMO Capital Markets lifted their price objective on Kennametal from $45.00 to $52.00 and gave the stock a market perform rating in a research report on Wednesday, December 13th. ValuEngine lowered Kennametal from a buy rating to a hold rating in a research report on Friday, December 1st. TheStreet raised Kennametal from a c+ rating to a b rating in a research report on Thursday, November 2nd. Finally, Credit Suisse Group lifted their price objective on Kennametal from $40.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Kennametal currently has an average rating of Hold and a consensus target price of $48.95.
Kennametal (NYSE KMT) traded up $1.29 during mid-day trading on Thursday, hitting $51.25. The stock had a trading volume of 916,744 shares, compared to its average volume of 592,125. Kennametal has a 1 year low of $32.23 and a 1 year high of $52.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. The company has a market cap of $4,153.71, a price-to-earnings ratio of 37.96, a PEG ratio of 2.42 and a beta of 1.98.
In related news, Director Steven H. Wunning sold 4,445 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $46.63, for a total value of $207,270.35. Following the completion of the sale, the director now directly owns 29,693 shares of the company’s stock, valued at approximately $1,384,584.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy R. Mclevish sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $48.00, for a total value of $960,000.00. Following the completion of the sale, the director now directly owns 66,904 shares of the company’s stock, valued at $3,211,392. The disclosure for this sale can be found here. Insiders sold a total of 59,570 shares of company stock valued at $2,816,345 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of KMT. Fortaleza Asset Management Inc. bought a new stake in Kennametal in the 3rd quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kennametal by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after buying an additional 272 shares in the last quarter. Hartford Investment Management Co. bought a new stake in Kennametal in the 3rd quarter valued at about $202,000. World Asset Management Inc bought a new stake in Kennametal in the 3rd quarter valued at about $207,000. Finally, Trexquant Investment LP bought a new stake in Kennametal in the 3rd quarter valued at about $207,000. 98.59% of the stock is owned by institutional investors and hedge funds.
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Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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