Kennametal Inc. (NYSE:KMT) – Stock analysts at KeyCorp dropped their Q4 2018 earnings estimates for shares of Kennametal in a research note issued on Monday. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings of $0.75 per share for the quarter, down from their prior forecast of $0.79. KeyCorp has a “Buy” rating and a $56.00 price objective on the stock. KeyCorp also issued estimates for Kennametal’s Q1 2019 earnings at $0.59 EPS and Q4 2019 earnings at $0.89 EPS.
Several other analysts also recently commented on the stock. BMO Capital Markets upped their price objective on shares of Kennametal from $45.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday, December 13th. Credit Suisse Group upped their price objective on shares of Kennametal from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. ValuEngine downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Kennametal in a report on Thursday, January 18th. Finally, TheStreet raised shares of Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.25.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $571.00 million during the quarter, compared to analysts’ expectations of $541.78 million. Kennametal had a net margin of 6.54% and a return on equity of 17.09%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, February 12th. Kennametal’s dividend payout ratio (DPR) is presently 45.45%.
In related news, Director Timothy R. Mclevish sold 20,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $48.00, for a total transaction of $960,000.00. Following the sale, the director now directly owns 66,904 shares of the company’s stock, valued at $3,211,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Judith L. Bacchus sold 18,125 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $47.00, for a total transaction of $851,875.00. Following the sale, the vice president now directly owns 38,528 shares in the company, valued at $1,810,816. The disclosure for this sale can be found here. Insiders have sold 45,125 shares of company stock worth $2,140,875 over the last three months. 2.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. New Mexico Educational Retirement Board acquired a new position in Kennametal during the fourth quarter worth $968,000. Swiss National Bank raised its position in Kennametal by 2.3% during the fourth quarter. Swiss National Bank now owns 137,400 shares of the industrial products company’s stock worth $6,652,000 after acquiring an additional 3,100 shares during the period. Lisanti Capital Growth LLC raised its position in Kennametal by 360.4% during the fourth quarter. Lisanti Capital Growth LLC now owns 43,275 shares of the industrial products company’s stock worth $2,095,000 after acquiring an additional 33,875 shares during the period. Teacher Retirement System of Texas raised its position in Kennametal by 314.1% during the fourth quarter. Teacher Retirement System of Texas now owns 27,519 shares of the industrial products company’s stock worth $1,332,000 after acquiring an additional 20,873 shares during the period. Finally, Emerald Advisers Inc. PA raised its position in Kennametal by 24.0% during the fourth quarter. Emerald Advisers Inc. PA now owns 937,357 shares of the industrial products company’s stock worth $45,377,000 after acquiring an additional 181,166 shares during the period. Institutional investors own 98.11% of the company’s stock.
Kennametal Company Profile
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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