ValuEngine upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a buy rating in a research report report published on Saturday, March 10th.
Other analysts also recently issued research reports about the stock. Stifel Nicolaus lifted their target price on shares of Kennametal from $50.00 to $52.00 and gave the company a hold rating in a report on Sunday, February 4th. KeyCorp restated a buy rating and issued a $56.00 price target on shares of Kennametal in a research note on Wednesday, January 10th. Jefferies Group reaffirmed a buy rating and set a $60.00 price objective on shares of Kennametal in a research report on Thursday, January 18th. Barrington Research reissued an outperform rating and issued a $53.00 price target on shares of Kennametal in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut shares of Kennametal from an overweight rating to a neutral rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $49.95.
Shares of Kennametal (NYSE:KMT) traded up $0.70 during trading on Friday, reaching $43.70. 1,231,561 shares of the company were exchanged, compared to its average volume of 928,062. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.77 and a quick ratio of 1.52. Kennametal has a 1 year low of $32.23 and a 1 year high of $52.52. The stock has a market cap of $3,564.74, a price-to-earnings ratio of 24.83, a PEG ratio of 3.41 and a beta of 2.01.
Kennametal (NYSE:KMT) last released its earnings results on Thursday, February 1st. The industrial products company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). The business had revenue of $571.00 million during the quarter, compared to analysts’ expectations of $541.78 million. Kennametal had a return on equity of 17.09% and a net margin of 6.54%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. equities analysts anticipate that Kennametal will post 2.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.83%. Kennametal’s dividend payout ratio is presently 45.45%.
Hedge funds have recently added to or reduced their stakes in the company. Hartford Investment Management Co. purchased a new position in shares of Kennametal during the third quarter valued at approximately $202,000. World Asset Management Inc purchased a new position in shares of Kennametal during the third quarter valued at approximately $207,000. Trexquant Investment LP purchased a new position in Kennametal during the third quarter worth approximately $207,000. Campbell & CO Investment Adviser LLC purchased a new position in Kennametal during the third quarter worth approximately $234,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kennametal by 41.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,019 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 1,463 shares during the period. Institutional investors and hedge funds own 99.33% of the company’s stock.
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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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