Kennametal (NYSE:KMT) Stock Rating Lowered by StockNews.com

Kennametal (NYSE:KMT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Several other brokerages also recently weighed in on KMT. Loop Capital reduced their target price on Kennametal from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Barclays upped their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, Kennametal has a consensus rating of “Hold” and a consensus target price of $23.83.

Kennametal Stock Performance

Shares of KMT traded down $0.56 during mid-day trading on Monday, reaching $22.98. The company had a trading volume of 737,135 shares, compared to its average volume of 646,396. Kennametal has a 52-week low of $22.08 and a 52-week high of $30.60. The company has a quick ratio of 1.09, a current ratio of 2.42 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.81 billion, a P/E ratio of 17.02, a PEG ratio of 2.40 and a beta of 1.67. The stock has a 50 day moving average of $24.70 and a two-hundred day moving average of $24.69.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, May 8th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The company had revenue of $515.80 million during the quarter, compared to analysts’ expectations of $518.50 million. During the same quarter in the previous year, the company earned $0.39 EPS. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts expect that Kennametal will post 1.45 earnings per share for the current year.

Insider Buying and Selling at Kennametal

In other Kennametal news, CEO Sanjay Chowbey bought 5,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were acquired at an average cost of $24.28 per share, with a total value of $121,400.00. Following the purchase, the chief executive officer now directly owns 49,270 shares of the company’s stock, valued at approximately $1,196,275.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kennametal

Several hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its stake in Kennametal by 119.6% during the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 603 shares in the last quarter. Headlands Technologies LLC acquired a new position in Kennametal in the first quarter valued at $32,000. First United Bank & Trust acquired a new stake in shares of Kennametal during the fourth quarter worth about $45,000. CWM LLC lifted its holdings in shares of Kennametal by 191.1% in the 4th quarter. CWM LLC now owns 1,767 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,160 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Kennametal in the 4th quarter valued at about $48,000.

Kennametal Company Profile

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.