Kennametal (NYSE:KMT) Price Target Cut to $30.00 by Analysts at Barclays

Kennametal (NYSE:KMT) had its price objective reduced by Barclays from $31.00 to $30.00 in a research note released on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

KMT has been the topic of a number of other reports. Morgan Stanley raised their target price on Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Loop Capital lifted their price target on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 19th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research note on Friday, October 18th. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Finally, Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $32.00 in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.67.

Kennametal Price Performance

Shares of NYSE KMT opened at $24.35 on Wednesday. The stock has a market cap of $1.89 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67. Kennametal has a fifty-two week low of $22.50 and a fifty-two week high of $32.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. The stock has a fifty day moving average of $26.86 and a 200-day moving average of $25.59.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analyst estimates of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. Kennametal’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. Equities research analysts anticipate that Kennametal will post 1.44 earnings per share for the current year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Tuesday, November 12th. Kennametal’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling at Kennametal

In related news, VP John Wayne Witt sold 1,765 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $29.35, for a total value of $51,802.75. Following the sale, the vice president now owns 1,642 shares of the company’s stock, valued at $48,192.70. This trade represents a 51.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the transaction, the vice president now directly owns 39,581 shares in the company, valued at $1,117,767.44. This represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

Institutional Trading of Kennametal

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of Kennametal by 198.9% in 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. Canada Pension Plan Investment Board bought a new position in shares of Kennametal during the second quarter worth about $28,000. Wilmington Savings Fund Society FSB bought a new position in shares of Kennametal during the third quarter worth about $30,000. GAMMA Investing LLC boosted its position in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 459 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Kennametal in the second quarter valued at approximately $44,000.

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.