Kennametal Inc. (NYSE:KMT) announced a quarterly dividend on Wednesday, November 1st, RTT News reports. Stockholders of record on Tuesday, November 14th will be paid a dividend of 0.20 per share by the industrial products company on Wednesday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Monday, November 13th.
Kennametal has increased its dividend payment by an average of 5.6% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Kennametal has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kennametal to earn $2.85 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 28.1%.
Shares of Kennametal (NYSE KMT) opened at $44.06 on Friday. Kennametal has a 52 week low of $31.12 and a 52 week high of $48.89. The firm has a market capitalization of $3,570.97, a PE ratio of 22.59, a PEG ratio of 2.09 and a beta of 1.96. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63.
Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business had revenue of $542.45 million for the quarter, compared to analyst estimates of $516.80 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. research analysts forecast that Kennametal will post 2.54 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on KMT shares. BidaskClub lowered Kennametal from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company upgraded Kennametal from a “market perform” rating to an “outperform” rating and upped their target price for the company from $26.10 to $43.50 in a research report on Friday, August 4th. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, August 4th. Stifel Nicolaus reiterated a “hold” rating on shares of Kennametal in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and upped their target price for the company from $40.00 to $43.00 in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Kennametal currently has a consensus rating of “Hold” and an average price target of $45.23.
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In related news, insider Christopher Rossi purchased 29,880 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was bought at an average cost of $33.46 per share, with a total value of $999,784.80. Following the completion of the acquisition, the insider now owns 29,850 shares of the company’s stock, valued at approximately $998,781. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven H. Wunning sold 4,445 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $46.63, for a total value of $207,270.35. Following the completion of the transaction, the director now directly owns 29,693 shares of the company’s stock, valued at $1,384,584.59. The disclosure for this sale can be found here. Insiders sold 15,015 shares of company stock valued at $695,563 over the last three months. 2.00% of the stock is currently owned by corporate insiders.
Kennametal Company Profile
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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