Kennametal Inc. (NYSE:KMT) – Research analysts at KeyCorp raised their Q1 2019 earnings per share (EPS) estimates for shares of Kennametal in a note issued to investors on Wednesday, August 8th. KeyCorp analyst S. Barger now anticipates that the industrial products company will earn $0.62 per share for the quarter, up from their previous forecast of $0.58. KeyCorp also issued estimates for Kennametal’s Q2 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $1.02 EPS, FY2019 earnings at $3.19 EPS, Q1 2020 earnings at $0.72 EPS, Q2 2020 earnings at $0.78 EPS, Q3 2020 earnings at $0.98 EPS, Q4 2020 earnings at $1.15 EPS and FY2020 earnings at $3.62 EPS.
KMT has been the topic of several other reports. Wells Fargo & Co restated an “outperform” rating and set a $48.00 target price (down from $53.00) on shares of Kennametal in a report on Thursday, April 19th. They noted that the move was a valuation call. Barrington Research restated a “buy” rating and set a $53.00 target price on shares of Kennametal in a report on Tuesday, May 1st. BMO Capital Markets restated a “hold” rating and set a $46.00 target price on shares of Kennametal in a report on Wednesday, April 18th. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Finally, Stifel Nicolaus restated a “hold” rating and set a $47.00 target price on shares of Kennametal in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.09.
Kennametal (NYSE:KMT) last posted its earnings results on Monday, August 6th. The industrial products company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. Kennametal had a return on equity of 18.60% and a net margin of 8.45%. The company had revenue of $646.11 million for the quarter, compared to analyst estimates of $631.48 million. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year.
The firm also recently declared 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 2.07%. The ex-dividend date of this dividend is Wednesday, August 15th. Kennametal’s dividend payout ratio is currently 30.19%.
In other news, Director Lawrence W. Stranghoener sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $38.73, for a total value of $271,110.00. Following the sale, the director now directly owns 26,108 shares of the company’s stock, valued at $1,011,162.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in Kennametal by 3.3% during the second quarter. BlackRock Inc. now owns 9,150,075 shares of the industrial products company’s stock worth $328,487,000 after buying an additional 296,422 shares in the last quarter. Ariel Investments LLC grew its position in 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 buying an additional 272,428 shares in the last quarter. Janus Henderson Group PLC grew its position in 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 buying an additional 308,247 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 buying an additional 119,160 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Kennametal by 109.9% during the first quarter. Victory Capital Management Inc. now owns 2,121,043 shares of the industrial products company’s stock worth $85,182,000 after buying an additional 1,110,683 shares in the last quarter. 99.82% of the stock is currently owned by institutional investors.
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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