Kennametal (NYSE:KMT) Downgraded by StockNews.com to Hold

Kennametal (NYSE:KMT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

KMT has been the subject of several other reports. Jefferies Financial Group lowered shares of Kennametal from a “buy” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Morgan Stanley dropped their price objective on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Finally, Barclays reduced their target price on Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.40.

Kennametal Stock Down 1.4 %

Kennametal stock traded down $0.30 during trading hours on Monday, reaching $21.32. The stock had a trading volume of 800,560 shares, compared to its average volume of 819,004. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 3.69 and a beta of 1.69. The business’s 50 day moving average price is $22.41 and its 200-day moving average price is $24.82. Kennametal has a 52 week low of $20.50 and a 52 week high of $32.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.13.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. Sell-side analysts anticipate that Kennametal will post 1.17 EPS for the current year.

Insider Buying and Selling at Kennametal

In related news, CEO Sanjay Chowbey purchased 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average cost of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. The trade was a 14.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Kennametal

Several hedge funds have recently bought and sold shares of KMT. Wellington Management Group LLP lifted its stake in shares of Kennametal by 33.5% in the 3rd quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after purchasing an additional 1,567,867 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Kennametal by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock worth $123,319,000 after acquiring an additional 101,159 shares during the period. Brandes Investment Partners LP boosted its stake in shares of Kennametal by 3.1% during the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock worth $61,819,000 after acquiring an additional 78,149 shares in the last quarter. American Century Companies Inc. grew its position in shares of Kennametal by 13.8% during the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock valued at $61,106,000 after acquiring an additional 308,000 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in shares of Kennametal in the 4th quarter valued at about $59,207,000.

About Kennametal

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.