Stifel Nicolaus Reaffirms Hold Rating for Kennametal (KMT)

Stifel Nicolaus reaffirmed their hold rating on shares of Kennametal (NYSE:KMT) in a report released on Thursday morning. They currently have a $47.00 price target on the industrial products company’s stock.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Kennametal from a hold rating to a buy rating and set a $44.00 target price on the stock in a research report on Wednesday, April 11th. Wells Fargo & Co reissued an outperform rating and issued a $48.00 target price (down from $53.00) on shares of Kennametal in a research report on Thursday, April 19th. They noted that the move was a valuation call. ValuEngine downgraded shares of Kennametal from a hold rating to a sell rating in a research report on Saturday, June 2nd. BMO Capital Markets reissued a hold rating and issued a $46.00 target price on shares of Kennametal in a research report on Wednesday, April 18th. Finally, Barrington Research reissued a buy rating and issued a $53.00 target price on shares of Kennametal in a research report on Tuesday, May 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $49.09.

Shares of Kennametal traded down $0.89, hitting $38.83, during mid-day trading on Thursday, according to MarketBeat. The company’s stock had a trading volume of 724,119 shares, compared to its average volume of 1,231,327. The stock has a market capitalization of $3.24 billion, a P/E ratio of 14.65, a P/E/G ratio of 2.54 and a beta of 1.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.74 and a quick ratio of 1.47. Kennametal has a fifty-two week low of $32.93 and a fifty-two week high of $52.52.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.07. The company had revenue of $646.11 million for the quarter, compared to analysts’ expectations of $631.48 million. Kennametal had a net margin of 8.45% and a return on equity of 18.60%. The business’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. equities research analysts forecast that Kennametal will post 3.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 28th. Stockholders of record on Thursday, August 16th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, August 15th. Kennametal’s dividend payout ratio (DPR) is currently 30.19%.

In other news, Director Lawrence W. Stranghoener sold 7,000 shares of Kennametal stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $38.73, for a total value of $271,110.00. Following the transaction, the director now directly owns 26,108 shares of the company’s stock, valued at $1,011,162.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Kennametal by 728.0% during the second quarter. Envestnet Asset Management Inc. now owns 30,305 shares of the industrial products company’s stock worth $1,088,000 after purchasing an additional 26,645 shares during the period. Ariel Investments LLC boosted its holdings in shares of Kennametal by 5.3% during the second quarter. Ariel Investments LLC now owns 5,459,382 shares of the industrial products company’s stock worth $195,992,000 after purchasing an additional 272,428 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Kennametal by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,189,690 shares of the industrial products company’s stock worth $78,611,000 after purchasing an additional 119,160 shares during the period. Legal & General Group Plc boosted its holdings in shares of Kennametal by 1.3% during the second quarter. Legal & General Group Plc now owns 103,427 shares of the industrial products company’s stock worth $3,713,000 after purchasing an additional 1,364 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Kennametal by 11.6% during the second quarter. Janus Henderson Group PLC now owns 2,971,295 shares of the industrial products company’s stock worth $106,669,000 after purchasing an additional 308,247 shares during the period.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.

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Analyst Recommendations for Kennametal (NYSE:KMT)

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