Kennametal (NYSE:KMT) Price Target Raised to $26.00 at Loop Capital

Kennametal (NYSE:KMT) had its target price lifted by Loop Capital from $24.00 to $26.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the company. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research report on Friday, October 18th. Barclays upped their target price on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.00.

Kennametal Trading Down 0.8 %

NYSE KMT opened at $27.97 on Tuesday. Kennametal has a 52 week low of $22.50 and a 52 week high of $32.18. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.17 billion, a P/E ratio of 21.85, a PEG ratio of 2.39 and a beta of 1.64. The company’s fifty day simple moving average is $26.26 and its 200-day simple moving average is $25.28.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Equities research analysts predict that Kennametal will post 1.45 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Tuesday, November 12th. Kennametal’s payout ratio is 62.50%.

Institutional Investors Weigh In On Kennametal

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in shares of Kennametal by 33.5% during the 3rd quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock worth $162,105,000 after buying an additional 1,567,867 shares during the period. Burgundy Asset Management Ltd. boosted its stake in Kennametal by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock valued at $117,175,000 after acquiring an additional 67,327 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Kennametal by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock worth $110,248,000 after acquiring an additional 100,905 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Kennametal by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock valued at $77,640,000 after purchasing an additional 50,622 shares during the period. Finally, Brandes Investment Partners LP grew its stake in shares of Kennametal by 35.1% during the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock worth $54,798,000 after purchasing an additional 606,477 shares during the period.

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.