Kennametal (KMT) Trading Up 5%

Kennametal Inc. (NYSE:KMT) shares were up 5% during mid-day trading on Wednesday . The stock traded as high as $41.07 and last traded at $40.95. Approximately 1,144,764 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 970,896 shares. The stock had previously closed at $38.99.

Several research analysts have recently issued reports on KMT shares. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 target price on the stock. in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. ValuEngine downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. BMO Capital Markets increased their price objective on shares of Kennametal from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, August 8th. Finally, Barclays restated a “hold” rating and set a $44.00 price objective on shares of Kennametal in a research report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Kennametal has an average rating of “Hold” and a consensus target price of $48.50.

The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 2.52 and a beta of 2.12. The company has a current ratio of 2.55, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.05. The company had revenue of $587.00 million for the quarter, compared to the consensus estimate of $590.22 million. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. On average, equities analysts forecast that Kennametal Inc. will post 3.1 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.95%. Kennametal’s dividend payout ratio (DPR) is 30.19%.

In other Kennametal news, VP Gaalen Jan Kees Van sold 13,606 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $41.09, for a total transaction of $559,070.54. Following the completion of the sale, the vice president now directly owns 68,827 shares of the company’s stock, valued at $2,828,101.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michelle R. Keating sold 988 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $42.20, for a total transaction of $41,693.60. Following the sale, the vice president now directly owns 14,676 shares of the company’s stock, valued at $619,327.20. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Kennametal by 3.3% during the second quarter. BlackRock Inc. now owns 9,150,075 shares of the industrial products company’s stock valued at $328,487,000 after buying an additional 296,422 shares during the last quarter. Ariel Investments LLC increased its stake in shares of Kennametal by 5.3% in 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 in the last quarter. Janus Henderson Group PLC increased its stake in shares of Kennametal by 11.6% in 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kennametal by 5.8% in 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 in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Kennametal by 94.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,120,564 shares of the industrial products company’s stock worth $76,128,000 after purchasing an additional 1,027,424 shares in the last quarter.

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About Kennametal (NYSE:KMT)

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. The company operates through three segments: Industrial, Widia, and Infrastructure.

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