Kennametal Inc. (NYSE:KMT) Receives Consensus Rating of “Reduce” from Analysts

Shares of Kennametal Inc. (NYSE:KMT) have been assigned an average rating of “Reduce” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.20.

A number of brokerages have weighed in on KMT. StockNews.com lowered shares of Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Barclays lowered their price target on Kennametal from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley cut their price objective on Kennametal from $24.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey acquired 10,000 shares of the stock in a transaction on Tuesday, February 11th. The stock was bought at an average price of $21.75 per share, with a total value of $217,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after buying an additional 459 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Kennametal by 1.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 34,150 shares of the industrial products company’s stock valued at $727,000 after purchasing an additional 600 shares in the last quarter. Sei Investments Co. increased its holdings in Kennametal by 1.8% during the 4th quarter. Sei Investments Co. now owns 34,614 shares of the industrial products company’s stock worth $831,000 after purchasing an additional 609 shares during the last quarter. Inspire Investing LLC raised its position in shares of Kennametal by 3.8% in the 4th quarter. Inspire Investing LLC now owns 18,512 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 672 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after buying an additional 716 shares during the last quarter.

Kennametal Price Performance

KMT stock opened at $18.64 on Friday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.55. The stock’s fifty day simple moving average is $21.02 and its 200-day simple moving average is $24.09. Kennametal has a 52-week low of $17.30 and a 52-week high of $32.18. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Equities research analysts expect that Kennametal will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Tuesday, February 11th. Kennametal’s payout ratio is 65.57%.

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.