Kennametal (KMT) Downgraded by ValuEngine
ValuEngine cut shares of Kennametal (NYSE:KMT) from a buy rating to a hold rating in a report issued on Friday.
Other research analysts have also issued research reports about the stock. BMO Capital Markets restated a hold rating and issued a $45.00 price target on shares of Kennametal in a research report on Wednesday, August 23rd. BidaskClub lowered shares of Kennametal from a sell rating to a strong sell rating in a research report on Saturday, August 12th. Jefferies Group restated a buy rating and issued a $50.00 price target on shares of Kennametal in a research report on Thursday, September 21st. Wells Fargo & Company upgraded shares of Kennametal from a market perform rating to an outperform rating and lifted their price target for the stock from $26.10 to $43.50 in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded shares of Kennametal from a neutral rating to an overweight rating and lifted their price target for the stock from $40.00 to $43.00 in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $45.23.
Kennametal (NYSE KMT) traded down $0.04 during trading on Friday, reaching $46.58. 858,800 shares of the company’s stock traded hands, compared to its average volume of 904,113. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. The firm has a market capitalization of $3,775.22, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 2.20 and a beta of 1.98. Kennametal has a 12-month low of $31.12 and a 12-month high of $48.89.
Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.17. The firm had revenue of $542.45 million for the quarter, compared to analyst estimates of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. analysts predict that Kennametal will post 2.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Monday, November 13th. Kennametal’s payout ratio is 59.26%.
In other Kennametal news, Director Steven H. Wunning sold 4,445 shares of Kennametal stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $46.63, for a total transaction of $207,270.35. Following the transaction, the director now directly owns 29,693 shares in the company, valued at approximately $1,384,584.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert J. Clemens sold 10,000 shares of Kennametal stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $46.82, for a total transaction of $468,200.00. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new position in shares of Kennametal during the 2nd quarter valued at $76,161,000. Vanguard Group Inc. grew its holdings in shares of Kennametal by 18.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after acquiring an additional 1,263,163 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Kennametal by 69.6% during the 2nd quarter. American Century Companies Inc. now owns 1,709,479 shares of the industrial products company’s stock valued at $63,969,000 after acquiring an additional 701,783 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Kennametal by 48.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock valued at $57,758,000 after acquiring an additional 501,090 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Kennametal by 131.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 841,647 shares of the industrial products company’s stock valued at $31,494,000 after acquiring an additional 478,446 shares in the last quarter. Hedge funds and other institutional investors own 98.67% of the company’s stock.
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Kennametal Company Profile
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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