Brokerages Set Kennametal Inc. (NYSE:KMT) Price Target at $26.60

Shares of Kennametal Inc. (NYSE:KMT) have received a consensus rating of “Reduce” from the five research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $26.60.

A number of brokerages have commented on KMT. Barclays set a $25.00 target price on Kennametal and gave the company an “equal weight” rating in a report on Monday, March 10th. Morgan Stanley reduced their target price on 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 Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Finally, Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $32.00 in a report on Friday, December 6th.

Kennametal Price Performance

Shares of Kennametal stock opened at $21.58 on Wednesday. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 3.69 and a beta of 1.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 2.53. The stock has a 50 day moving average price of $22.67 and a 200-day moving average price of $24.93. Kennametal has a one year low of $20.50 and a one year high of $32.18.

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 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 analysts expect that Kennametal will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Tuesday, February 11th. Kennametal’s dividend payout ratio (DPR) is currently 65.57%.

Insider Transactions at Kennametal

In related news, CEO Sanjay Chowbey purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the transaction, the chief executive officer now directly owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Kennametal

A number of institutional investors have recently added to or reduced their stakes in KMT. Wilmington Savings Fund Society FSB purchased a new position in Kennametal in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. increased its stake in Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 716 shares in the last quarter. GAMMA Investing LLC increased its position in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after buying an additional 459 shares in the last quarter. Headlands Technologies LLC increased its position in Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after buying an additional 1,444 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in Kennametal by 801.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after buying an additional 2,181 shares in the last quarter.

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.