Kennametal (NYSE:KMT) Upgraded at StockNews.com

StockNews.com upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a buy rating in a research report released on Saturday.

A number of other brokerages have also weighed in on KMT. Barclays boosted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an equal weight rating in a report on Friday, August 9th. Loop Capital raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock a hold rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $24.17.

Kennametal Trading Down 0.2 %

Shares of KMT stock opened at $25.66 on Friday. The company has a market capitalization of $2.02 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.62 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 2.41. The business’s fifty day moving average is $25.11 and its 200 day moving average is $24.64. Kennametal has a 52-week low of $22.08 and a 52-week high of $27.04.

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

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.20 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 annualized dividend and a yield of 3.12%. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.

Institutional Trading of Kennametal

Several institutional investors and hedge funds have recently bought and sold shares of KMT. Sanctuary Advisors LLC bought a new position in shares of Kennametal during the second quarter valued at approximately $451,000. Brandes Investment Partners LP grew its stake in shares of Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock worth $54,798,000 after acquiring an additional 606,477 shares during the period. Quarry LP raised its stake in 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 buying an additional 704 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Kennametal by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 43,877 shares of the industrial products company’s stock valued at $1,033,000 after acquiring an additional 1,016 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Kennametal by 59.3% in the 2nd quarter. Millennium Management LLC now owns 154,059 shares of the industrial products company’s stock worth $3,627,000 after purchasing an additional 57,327 shares during the period.

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.