Q3 2018 EPS Estimates for Kennametal Inc. Boosted by Analyst (KMT)
Kennametal Inc. (NYSE:KMT) – Stock analysts at KeyCorp boosted their Q3 2018 EPS estimates for shares of Kennametal in a research note issued on Monday. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $0.77 for the quarter, up from their prior estimate of $0.71. KeyCorp has a “Buy” rating and a $56.00 price target on the stock. KeyCorp also issued estimates for Kennametal’s Q2 2019 earnings at $0.69 EPS, Q3 2019 earnings at $0.87 EPS and FY2019 earnings at $3.04 EPS.
Kennametal (NYSE:KMT) last issued its earnings results on Thursday, February 1st. The industrial products company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.03). The firm had revenue of $571.00 million during the quarter, compared to analyst estimates of $541.78 million. Kennametal had a net margin of 6.54% and a return on equity of 17.09%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS.
Shares of Kennametal (KMT) traded down $0.86 during midday trading on Wednesday, reaching $41.74. 607,507 shares of the company traded hands, compared to its average volume of 1,135,270. The firm has a market cap of $3,598.20, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.95. The company has a current ratio of 2.77, a quick ratio of 1.52 and a debt-to-equity ratio of 0.60. Kennametal has a 1-year low of $32.23 and a 1-year high of $52.52.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a yield of 1.92%. Kennametal’s payout ratio is 45.45%.
In related news, VP Judith L. Bacchus sold 18,125 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $47.00, for a total transaction of $851,875.00. Following the completion of the sale, the vice president now directly owns 38,528 shares of the company’s stock, valued at approximately $1,810,816. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy R. Mclevish sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total value of $960,000.00. Following the sale, the director now directly owns 66,904 shares of the company’s stock, valued at $3,211,392. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,125 shares of company stock valued at $2,140,875. 2.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new position in shares of Kennametal during the 2nd quarter worth approximately $76,161,000. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 1,263,163 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Kennametal during the 4th quarter valued at $48,911,000. American Century Companies Inc. lifted its holdings in Kennametal by 39.4% during the 3rd quarter. American Century Companies Inc. now owns 2,382,709 shares of the industrial products company’s stock valued at $96,118,000 after purchasing an additional 673,230 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 478,446 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.
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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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