Kennametal (NYSE:KMT) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Kennametal (NYSE:KMTGet Rating) from a buy rating to a hold rating in a report released on Wednesday morning.

A number of other brokerages also recently issued reports on KMT. Barclays reduced their price target on shares of Kennametal from $26.00 to $25.00 in a report on Wednesday. Loop Capital reduced their price target on shares of Kennametal from $29.00 to $22.00 and set a hold rating on the stock in a report on Wednesday, July 20th. Jefferies Financial Group reduced their price target on shares of Kennametal from $45.00 to $35.00 in a report on Friday, July 15th. Morgan Stanley reduced their price target on shares of Kennametal from $32.00 to $27.00 and set an equal weight rating on the stock in a report on Monday, July 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Kennametal from $31.00 to $22.00 and set an underweight rating on the stock in a report on Tuesday, July 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $28.56.

Kennametal Stock Down 0.5 %

Shares of KMT stock opened at $26.24 on Wednesday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.70 and a beta of 1.90. Kennametal has a one year low of $21.62 and a one year high of $41.22. The company’s fifty day moving average price is $25.01 and its 200-day moving average price is $28.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.11 and a quick ratio of 1.05.

Kennametal (NYSE:KMTGet Rating) last announced its quarterly earnings data on Monday, August 1st. The industrial products company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. The firm had revenue of $530.02 million for the quarter, compared to the consensus estimate of $516.09 million. Kennametal had a net margin of 7.19% and a return on equity of 11.10%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. Sell-side analysts expect that Kennametal will post 1.96 EPS for the current fiscal year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.05%. Kennametal’s dividend payout ratio is presently 46.51%.

Hedge Funds Weigh In On Kennametal

A number of large investors have recently made changes to their positions in the company. Profund Advisors LLC boosted its stake in shares of Kennametal by 5.4% during the 4th quarter. Profund Advisors LLC now owns 6,498 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 330 shares during the period. Raymond James & Associates boosted its position in Kennametal by 5.8% in the 4th quarter. Raymond James & Associates now owns 8,164 shares of the industrial products company’s stock valued at $293,000 after buying an additional 448 shares during the period. Cornercap Investment Counsel Inc. boosted its position in Kennametal by 1.5% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 30,343 shares of the industrial products company’s stock valued at $868,000 after buying an additional 449 shares during the period. Comerica Bank boosted its position in Kennametal by 1.0% in the 1st quarter. Comerica Bank now owns 55,653 shares of the industrial products company’s stock valued at $1,584,000 after buying an additional 550 shares during the period. Finally, Yousif Capital Management LLC boosted its position in Kennametal by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 44,482 shares of the industrial products company’s stock valued at $1,273,000 after buying an additional 550 shares during the period.

Kennametal Company Profile

(Get Rating)

Kennametal Inc develops and applies 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. It operates through two segments, Metal Cutting and Infrastructure.

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