Kennametal (NYSE:KMT) PT Lowered to $22.00 at Loop Capital

Kennametal (NYSE:KMTFree Report) had its target price trimmed by Loop Capital from $24.00 to $22.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Several other brokerages have also recently commented on KMT. Barclays increased their price target on shares of Kennametal from $24.00 to $25.00 and gave the stock an equal weight rating in a research report on Thursday, May 9th. StockNews.com upgraded Kennametal from a hold rating to a buy rating in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Kennametal has a consensus rating of Hold and an average price target of $23.83.

Read Our Latest Analysis on Kennametal

Kennametal Stock Up 0.4 %

Shares of Kennametal stock opened at $23.69 on Friday. The company has a fifty day moving average price of $24.78 and a 200 day moving average price of $24.76. The company has a current ratio of 2.42, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46. Kennametal has a twelve month low of $22.08 and a twelve month high of $30.60. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.41 and a beta of 1.72.

Kennametal (NYSE:KMTGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The business had revenue of $515.80 million for the quarter, compared to analysts’ expectations of $518.50 million. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.39 earnings per share. Equities research analysts forecast that Kennametal will post 1.45 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, May 13th. Kennametal’s dividend payout ratio is currently 59.26%.

Insider Activity

In other Kennametal news, CEO Sanjay Chowbey acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $24.28 per share, for a total transaction of $121,400.00. Following the completion of the acquisition, the chief executive officer now owns 49,270 shares of the company’s stock, valued at approximately $1,196,275.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Kennametal by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,385 shares of the industrial products company’s stock valued at $1,058,000 after buying an additional 2,519 shares during the last quarter. Keeley Teton Advisors LLC raised its position in shares of Kennametal by 43.5% during the first quarter. Keeley Teton Advisors LLC now owns 19,664 shares of the industrial products company’s stock valued at $490,000 after buying an additional 5,964 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Kennametal by 2,552.0% during the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after buying an additional 2,603 shares during the last quarter. Natixis raised its position in shares of Kennametal by 171.0% during the first quarter. Natixis now owns 21,647 shares of the industrial products company’s stock valued at $540,000 after buying an additional 13,660 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Kennametal by 5.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 67,843 shares of the industrial products company’s stock valued at $1,692,000 after buying an additional 3,261 shares during the last quarter.

Kennametal Company Profile

(Get Free Report)

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.

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