Brokerages Set Kennametal Inc. (NYSE:KMT) PT at $27.00

Kennametal Inc. (NYSE:KMT) has earned a consensus recommendation of “Reduce” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $27.00.

Several research firms have recently issued reports on KMT. Loop Capital increased their price objective on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. Barclays decreased their price objective on shares of Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Morgan Stanley decreased their price objective on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Finally, Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $32.00 in a research note on Friday, December 6th.

Insider Activity at Kennametal

In related news, VP Franklin Cardenas sold 20,470 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the sale, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. This represents a 34.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, with a total value of $217,500.00. Following the transaction, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. This represents a 14.79 % increase in their position. The disclosure for this purchase can be found here. 1.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Kennametal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Kennametal in the 3rd quarter worth approximately $30,000. Blue Trust Inc. lifted its position in Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Kennametal by 214.2% during the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 1,444 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,008 shares during the last quarter.

Kennametal Price Performance

NYSE KMT opened at $22.07 on Friday. Kennametal has a 52 week low of $20.50 and a 52 week high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 3.69 and a beta of 1.66. The company has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $25.40.

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

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be given a $0.20 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.63%. Kennametal’s dividend payout ratio (DPR) is presently 65.57%.

About Kennametal

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.