Kennametal Inc. (NYSE:KMT) had its price objective lifted by Jefferies Group LLC from $50.00 to $55.00 in a research report released on Friday morning. The brokerage currently has a buy rating on the industrial products company’s stock. Jefferies Group also issued estimates for Kennametal’s Q3 2018 earnings at $0.80 EPS, FY2018 earnings at $2.55 EPS, FY2019 earnings at $3.00 EPS and FY2020 earnings at $3.50 EPS.
A number of other equities research analysts also recently weighed in on the stock. Credit Suisse Group boosted their price objective on shares of Kennametal from $40.00 to $45.00 and gave the company a neutral rating in a research report on Friday. BMO Capital Markets reaffirmed a hold rating and set a $45.00 price objective on shares of Kennametal in a research report on Friday, October 20th. Zacks Investment Research raised shares of Kennametal from a hold rating to a buy rating and set a $46.00 price objective for the company in a research report on Wednesday, October 4th. J P Morgan Chase & Co raised shares of Kennametal from a neutral rating to an overweight rating and boosted their price objective for the company from $40.00 to $43.00 in a research report on Thursday, August 17th. Finally, BidaskClub lowered shares of Kennametal from a sell rating to a strong sell rating in a research note on Saturday, August 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $45.23.
Shares of Kennametal (KMT) traded down $0.10 during trading hours on Friday, hitting $45.76. 126,110 shares of the company were exchanged, compared to its average volume of 819,312. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63. Kennametal has a twelve month low of $29.02 and a twelve month high of $48.89. The company has a market cap of $3,700.00, a P/E ratio of 23.99, a PEG ratio of 2.34 and a beta of 1.95.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.17. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The business had revenue of $542.45 million during the quarter, compared to the consensus estimate of $516.80 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. analysts expect that Kennametal will post 2.4 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, November 13th. Kennametal’s dividend payout ratio is currently 59.26%.
In related news, insider Christopher Rossi purchased 29,880 shares of Kennametal stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of $33.46 per share, with a total value of $999,784.80. Following the purchase, the insider now owns 29,850 shares in the company, valued at approximately $998,781. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, VP Charles Michael Jr. Byrnes purchased 1,900 shares of Kennametal stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of $33.00 per share, with a total value of $62,700.00. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Fortaleza Asset Management Inc. acquired a new stake in Kennametal during the third quarter valued at approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kennametal by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 272 shares during the last quarter. World Asset Management Inc acquired a new stake in Kennametal during the third quarter valued at approximately $207,000. Oakbrook Investments LLC lifted its stake in Kennametal by 2.6% during the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock valued at $223,000 after purchasing an additional 150 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in Kennametal during the second quarter valued at approximately $229,000. 96.75% of the stock is owned by institutional investors and hedge funds.
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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