Brokerages Set Kennametal Inc. (NYSE:KMT) Target Price at $25.80

Shares of Kennametal Inc. (NYSE:KMT) have been given a consensus rating of “Reduce” by the five brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $25.80.

KMT has been the subject of a number of analyst reports. Morgan Stanley raised their price target on shares of Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Wall Street Zen upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Barclays raised their price target on Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, May 12th.

Kennametal Stock Up 0.6%

Shares of KMT opened at $21.65 on Monday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 3.69 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. Kennametal has a 12 month low of $17.30 and a 12 month high of $32.18. The company has a 50-day moving average price of $20.19 and a two-hundred day moving average price of $22.80.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The firm had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $489.30 million. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. Equities analysts predict that Kennametal will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Kennametal’s dividend payout ratio (DPR) is presently 57.55%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC raised its position in shares of Kennametal by 95.6% during the third quarter. Barclays PLC now owns 163,670 shares of the industrial products company’s stock worth $4,244,000 after acquiring an additional 79,992 shares during the last quarter. Blue Trust Inc. raised its position in shares of Kennametal by 120.9% during the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 716 shares during the last quarter. KBC Group NV raised its position in shares of Kennametal by 50.3% during the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 1,122 shares during the last quarter. Legato Capital Management LLC raised its position in shares of Kennametal by 42.3% during the fourth quarter. Legato Capital Management LLC now owns 64,860 shares of the industrial products company’s stock worth $1,558,000 after acquiring an additional 19,285 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Kennametal by 6.0% during the fourth quarter. Rhumbline Advisers now owns 265,241 shares of the industrial products company’s stock worth $6,371,000 after acquiring an additional 14,936 shares during the last quarter.

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.