Brokerages Set Kennametal Inc. (NYSE:KMT) Price Target at $24.17

Kennametal Inc. (NYSE:KMT) has received an average rating of “Reduce” from the five analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.17.

A number of research analysts recently issued reports on the company. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a report on Saturday, September 21st. Barclays raised their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Loop Capital boosted their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd.

Kennametal Trading Up 1.1 %

NYSE KMT opened at $26.40 on Wednesday. Kennametal has a one year low of $22.08 and a one year high of $27.04. 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 firm has a market cap of $2.08 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.71 and a beta of 1.65. The stock’s 50-day moving average is $25.19 and its 200-day moving average is $24.67.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm had revenue of $543.31 million for the quarter, compared to the consensus estimate of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. Sell-side analysts anticipate that Kennametal will post 1.51 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company 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 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Tuesday, August 13th. Kennametal’s dividend payout ratio (DPR) is currently 59.26%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Burgundy Asset Management Ltd. lifted its holdings in Kennametal by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock valued at $117,175,000 after purchasing an additional 67,327 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Kennametal by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock worth $110,248,000 after buying an additional 100,905 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Kennametal by 7.8% during the 4th quarter. Wellington Management Group LLP now owns 4,240,814 shares of the industrial products company’s stock worth $109,371,000 after buying an additional 305,542 shares during the period. Victory Capital Management Inc. grew its stake in Kennametal by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock valued at $77,640,000 after buying an additional 50,622 shares during the last quarter. Finally, Brandes Investment Partners LP raised its holdings in Kennametal by 35.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after acquiring an additional 606,477 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.