Kennametal (NYSE:KMT) Price Target Raised to $25.00 at Barclays

Kennametal (NYSE:KMT) had its price objective raised by Barclays from $24.00 to $25.00 in a research report report published on Friday, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on KMT. StockNews.com cut Kennametal from a buy rating to a hold rating in a research note on Friday, July 12th. Loop Capital lowered their target price on shares of Kennametal from $24.00 to $22.00 and set a hold rating on the stock in a report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $23.83.

Kennametal Stock Down 1.6 %

Shares of KMT stock opened at $24.28 on Friday. The firm’s fifty day moving average price is $24.21 and its two-hundred day moving average price is $24.53. 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 1 year low of $22.08 and a 1 year high of $27.05. The firm has a market capitalization of $1.91 billion, a P/E ratio of 17.99, a PEG ratio of 2.37 and a beta of 1.66.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The business had revenue of $543.31 million for the quarter, compared to the consensus estimate of $532.72 million. During the same quarter in the previous year, the business earned $0.51 earnings per share. Kennametal’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts predict that Kennametal will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Tuesday, August 13th. Kennametal’s payout ratio is presently 59.26%.

Insider Activity at Kennametal

In related news, CEO Sanjay Chowbey acquired 5,000 shares of Kennametal stock in a transaction on Monday, June 10th. The stock was purchased at an average cost of $24.28 per share, with a total value of $121,400.00. Following the completion of the transaction, the chief executive officer now directly owns 49,270 shares in the company, valued at approximately $1,196,275.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kennametal

Hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new position in shares of Kennametal in the second quarter valued at approximately $28,000. Signaturefd LLC boosted its stake in Kennametal by 119.6% in the 4th quarter. Signaturefd LLC now owns 1,107 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 603 shares during the period. Headlands Technologies LLC bought a new stake in Kennametal in the 1st quarter valued at $32,000. Quest Partners LLC acquired a new position in Kennametal in the 2nd quarter valued at $44,000. Finally, First United Bank & Trust bought a new position in Kennametal during the 4th quarter worth $45,000.

Kennametal Company Profile

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.