Kennametal Inc. (NYSE:KMT) Receives $24.17 Consensus Target Price from Analysts

Kennametal Inc. (NYSE:KMT) has earned an average rating of “Reduce” from the five brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $24.17.

A number of equities research analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Loop Capital lifted their price target on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research note on Thursday, August 22nd.

Institutional Investors Weigh In On Kennametal

A number of large investors have recently made changes to their positions in KMT. Texas Permanent School Fund Corp lifted its stake in Kennametal by 0.9% in the first quarter. Texas Permanent School Fund Corp now owns 69,376 shares of the industrial products company’s stock worth $1,730,000 after acquiring an additional 610 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Kennametal by 1.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 45,515 shares of the industrial products company’s stock worth $1,135,000 after purchasing an additional 684 shares during the period. Quarry LP boosted its stake in shares of Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 704 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Kennametal by 6.2% during the first quarter. ProShare Advisors LLC now owns 16,069 shares of the industrial products company’s stock valued at $401,000 after buying an additional 945 shares during the period. Finally, CWM LLC raised its stake in Kennametal by 46.7% in the second quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after buying an additional 970 shares in the last quarter.

Kennametal Price Performance

KMT stock opened at $25.68 on Wednesday. The firm has a 50 day simple moving average of $25.20 and a two-hundred day simple moving average of $24.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17. The stock has a market cap of $2.02 billion, a PE ratio of 19.02, a P/E/G ratio of 2.71 and a beta of 1.65. Kennametal has a one year low of $22.08 and a one year high of $27.04.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $543.31 million during the quarter, compared to analysts’ expectations of $532.72 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. On average, analysts predict that Kennametal will post 1.51 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Tuesday, August 13th. Kennametal’s payout ratio is 59.26%.

About Kennametal

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.