Kennametal Inc. (NYSE:KMT) Stock Has Consensus Target Price of $33.07 According to Analysts

Shares of Kennametal Inc. (NYSE:KMT) have been assigned an average rating of “Reduce” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $33.07.

Several equities research analysts have recently weighed in on KMT shares. DA Davidson cut their target price on Kennametal from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Zacks Research downgraded Kennametal from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Morgan Stanley downgraded Kennametal from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $31.00 to $27.00 in a report on Monday, August 10th. Weiss Ratings lowered shares of Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Finally, UBS Group cut their price objective on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 10th.

Insider Activity

In related news, CFO Patrick S. Watson bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average cost of $23.50 per share, with a total value of $47,000.00. Following the transaction, the chief financial officer directly owned 98,523 shares of the company’s stock, valued at approximately $2,315,290.50. This represents a 2.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Judith Bacchus sold 9,676 shares of Kennametal stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $30.29, for a total transaction of $293,086.04. Following the sale, the vice president owned 15,721 shares in the company, valued at $476,189.09. This represents a 38.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders purchased 16,000 shares of company stock worth $416,040. Corporate insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On Kennametal

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Kennametal during the 2nd quarter worth approximately $440,446,000. Arrowstreet Capital Limited Partnership grew its position in shares of Kennametal by 15.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,298,349 shares of the industrial products company’s stock worth $83,039,000 after acquiring an additional 307,209 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Kennametal in the 2nd quarter valued at $69,614,000. Medina Value Partners LLC acquired a new position in shares of Kennametal in the 2nd quarter valued at $43,007,296. Finally, NFJ Investment Group LLC acquired a new position in shares of Kennametal in the 2nd quarter valued at $36,202,000.

Kennametal Stock Performance

NYSE:KMT opened at $24.70 on Monday. Kennametal has a 12 month low of $22.65 and a 12 month high of $43.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.45 and a quick ratio of 1.24. The firm has a market capitalization of $1.90 billion, a PE ratio of 3.26, a price-to-earnings-growth ratio of 0.22 and a beta of 1.30. The business’s fifty day moving average price is $29.80 and its 200 day moving average price is $34.27.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.83. The company had revenue of $768.19 million during the quarter, compared to the consensus estimate of $770.36 million. Kennametal had a return on equity of 38.40% and a net margin of 22.49%. Kennametal’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. On average, sell-side analysts anticipate that Kennametal will post 5.18 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. Kennametal’s dividend payout ratio is presently 10.55%.

Kennametal Company Profile

Kennametal Inc. is an industrial technology company that develops and manufactures metal-cutting tools, tooling systems, and wear-resistant products. Its products use materials such as tungsten carbide and advanced ceramics to help customers machine components and protect equipment used in demanding operating conditions. The company serves industries including aerospace, transportation, energy, general engineering, and earthworks. Its products and services include cutting tools and related tooling, engineered components, and wear solutions for industrial applications.