Kennametal (NYSE:KMT) Hits New 12-Month High – Should You Buy?

Shares of Kennametal Inc. (NYSE:KMT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.27 and last traded at $31.15, with a volume of 150704 shares. The stock had previously closed at $26.58.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays increased their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Loop Capital increased their price objective on Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Finally, Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.60.

Kennametal Trading Up 17.5 %

The firm has a market capitalization of $2.43 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.84 and a beta of 1.64. 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 firm has a 50 day moving average price of $25.43 and a two-hundred day moving average price of $24.92.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $543.31 million during the quarter, compared to analyst estimates of $532.72 million. Kennametal had a return on equity of 9.17% and a net margin of 5.34%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. On average, equities research analysts expect that Kennametal Inc. will post 1.43 EPS for the current fiscal year.

Kennametal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Tuesday, November 12th. Kennametal’s dividend payout ratio is presently 58.39%.

Institutional Trading of Kennametal

Hedge funds have recently modified their holdings of the business. Quarry LP lifted its holdings in shares of Kennametal by 198.9% in the second 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 purchased a new stake in shares of Kennametal in the second quarter valued at $28,000. Headlands Technologies LLC purchased a new stake in shares of Kennametal in the first quarter valued at $32,000. Quest Partners LLC purchased a new stake in shares of Kennametal in the second quarter valued at $44,000. Finally, Signaturefd LLC raised its holdings in shares of Kennametal by 98.7% during the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,008 shares in the last quarter.

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.