Analysts Set Kennametal Inc. (KMT) Target Price at $48.64

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Shares of Kennametal Inc. (NYSE:KMT) have been given an average rating of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $48.64.

A number of analysts have weighed in on KMT shares. ValuEngine raised shares of Kennametal from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $52.00 price target for the company. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Barclays restated a “hold” rating and set a $44.00 price target on shares of Kennametal in a research report on Wednesday, August 8th. BMO Capital Markets upped their price target on shares of Kennametal from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. Finally, Stifel Nicolaus restated a “hold” rating and set a $47.00 price target on shares of Kennametal in a research report on Thursday, August 9th.

In related news, VP Michelle R. Keating sold 988 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $42.20, for a total value of $41,693.60. Following the completion of the transaction, the vice president now owns 14,676 shares in the company, valued at approximately $619,327.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Judith L. Bacchus sold 5,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $42.70, for a total transaction of $213,500.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in KMT. Principal Financial Group Inc. grew its position in Kennametal by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 364,841 shares of the industrial products company’s stock valued at $14,652,000 after buying an additional 14,463 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Kennametal in the 2nd quarter valued at about $15,768,000. Aperio Group LLC grew its position in Kennametal by 7.2% in the 2nd quarter. Aperio Group LLC now owns 28,048 shares of the industrial products company’s stock valued at $1,007,000 after buying an additional 1,882 shares in the last quarter. Comerica Bank grew its position in Kennametal by 4.5% in the 2nd quarter. Comerica Bank now owns 88,427 shares of the industrial products company’s stock valued at $3,281,000 after buying an additional 3,801 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Kennametal by 326.4% during the 2nd quarter. First Trust Advisors LP now owns 54,313 shares of the industrial products company’s stock valued at $1,950,000 after purchasing an additional 41,576 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

KMT traded down $1.41 during trading on Monday, hitting $38.09. The company had a trading volume of 5,998 shares, compared to its average volume of 715,340. The stock has a market capitalization of $3.24 billion, a PE ratio of 14.32, a P/E/G ratio of 2.53 and a beta of 2.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.55 and a quick ratio of 1.26. Kennametal has a 1-year low of $32.91 and a 1-year high of $52.52.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $590.22 million. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. On average, equities research analysts forecast that Kennametal will post 3.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Tuesday, November 13th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.10%. Kennametal’s dividend payout ratio is currently 30.19%.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Analyst Recommendations for Kennametal (NYSE:KMT)

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