Kennametal (NYSE:KMT) Upgraded at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Kennametal (NYSE:KMT – Free Report) from a hold rating to a buy rating in a report published on Friday.

Several other analysts also recently commented on KMT. Loop Capital raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Barclays raised their target price on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.33.

Check Out Our Latest Stock Analysis on KMT

Kennametal Stock Performance

Shares of NYSE:KMT opened at $25.71 on Friday. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.65 and a beta of 1.65. The firm’s 50 day simple moving average is $25.34 and its 200 day simple moving average is $24.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 1.17. Kennametal has a fifty-two week low of $22.08 and a fifty-two week high of $27.04.

Kennametal (NYSE:KMT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $543.31 million for the quarter, compared to the consensus estimate of $532.72 million. Kennametal had a net margin of 5.34% and a return on equity of 9.17%. Kennametal’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. As a group, sell-side analysts forecast that Kennametal will post 1.51 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. Kennametal’s dividend payout ratio is currently 59.26%.

Hedge Funds Weigh In On Kennametal

Several hedge funds have recently made changes to their positions in KMT. Quarry LP grew its stake in shares of Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 704 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Kennametal in the second quarter valued at $28,000. Headlands Technologies LLC bought a new position in shares of Kennametal in the first quarter valued at $32,000. Quest Partners LLC bought a new position in shares of Kennametal in the second quarter valued at $44,000. Finally, EntryPoint Capital LLC grew its stake in shares of Kennametal by 2,552.0% in the first quarter. EntryPoint Capital LLC now owns 2,705 shares of the industrial products company’s stock valued at $67,000 after buying an additional 2,603 shares in the last quarter.

About Kennametal

(Get Free Report)

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.

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