Kennametal Inc. (KMT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Kennametal Inc. (NYSE:KMT) have been given a consensus rating of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $48.64.

A number of analysts have recently commented on KMT shares. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, November 13th. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 price target on the stock. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. BMO Capital Markets boosted their price target on Kennametal from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. Finally, Barclays reissued a “hold” rating and issued a $44.00 price target on shares of Kennametal in a research report on Wednesday, August 8th.

Kennametal stock traded up $0.92 during trading hours on Monday, hitting $42.74. 451,860 shares of the stock traded hands, compared to its average volume of 814,930. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.55. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.68 and a beta of 2.16. Kennametal has a one year low of $32.91 and a one year high of $52.52.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Kennametal had a return on equity of 19.03% and a net margin of 9.03%. The firm had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $590.22 million. During the same period in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts predict that Kennametal will post 3.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th were given a $0.20 dividend. The ex-dividend date was Friday, November 9th. This represents a $0.80 annualized dividend and a yield of 1.87%. Kennametal’s dividend payout ratio (DPR) is presently 30.19%.

In related news, VP Michelle R. Keating sold 988 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $42.20, for a total value of $41,693.60. Following the transaction, the vice president now directly owns 14,676 shares of the company’s stock, valued at approximately $619,327.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gaalen Jan Kees Van sold 13,606 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total value of $559,070.54. Following the completion of the transaction, the vice president now directly owns 68,827 shares in the company, valued at $2,828,101.43. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Kennametal by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,935,351 shares of the industrial products company’s stock valued at $345,664,000 after buying an additional 32,739 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Kennametal by 0.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 382,185 shares of the industrial products company’s stock valued at $16,648,000 after buying an additional 1,350 shares during the last quarter. Teachers Advisors LLC raised its stake in Kennametal by 2.5% during the 3rd quarter. Teachers Advisors LLC now owns 158,662 shares of the industrial products company’s stock valued at $6,911,000 after buying an additional 3,882 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Kennametal by 56.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,475 shares of the industrial products company’s stock valued at $238,000 after buying an additional 1,965 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Kennametal by 45.7% during the 3rd quarter. AQR Capital Management LLC now owns 17,167 shares of the industrial products company’s stock valued at $748,000 after buying an additional 5,388 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Analyst Recommendations for Kennametal (NYSE:KMT)

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