BMO Capital Markets Reiterates Market Perform Rating for Kennametal Inc. (KMT)
Kennametal Inc. (NYSE:KMT)‘s stock had its “market perform” rating restated by research analysts at BMO Capital Markets in a research note issued on Thursday. They currently have a $30.00 price target on the stock, up from their previous price target of $27.00.
Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Kennametal from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Goldman Sachs Group Inc. upgraded shares of Kennametal from a “neutral” rating to a “buy” rating and raised their target price for the stock from $26.00 to $36.00 in a report on Monday, October 31st. Jefferies Group restated a “buy” rating and set a $35.00 target price on shares of Kennametal in a report on Tuesday, October 18th. Seaport Global Securities cut shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Thursday, August 18th. Finally, Barrington Research raised their target price on shares of Kennametal from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of C$26.45.
Kennametal (NYSE:KMT) opened at 34.22 on Thursday. The firm’s market capitalization is $2.74 billion. The company’s 50-day moving average price is $29.00 and its 200 day moving average price is $26.14. Kennametal has a 12 month low of $15.11 and a 12 month high of $34.26.
Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, October 26th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.03. Kennametal had a positive return on equity of 7.94% and a negative net margin of 11.95%. The business earned $477 million during the quarter, compared to the consensus estimate of $483.61 million. During the same period in the prior year, the business earned $0.14 EPS. The business’s revenue was down 14.1% on a year-over-year basis. Analysts predict that Kennametal will post $1.31 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Friday, November 11th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.34%. Kennametal’s dividend payout ratio (DPR) is presently -26.49%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Advisors Inc. raised its position in Kennametal by 8.3% in the first quarter. Teachers Advisors Inc. now owns 68,549 shares of the company’s stock worth $1,542,000 after buying an additional 5,257 shares during the period. Prudential Financial Inc. raised its position in Kennametal by 54.8% in the first quarter. Prudential Financial Inc. now owns 126,764 shares of the company’s stock worth $2,851,000 after buying an additional 44,900 shares during the period. BlackRock Group LTD raised its position in Kennametal by 26.6% in the first quarter. BlackRock Group LTD now owns 53,870 shares of the company’s stock worth $1,211,000 after buying an additional 11,320 shares during the period. Goldman Sachs Group Inc. raised its position in Kennametal by 292.6% in the first quarter. Goldman Sachs Group Inc. now owns 516,892 shares of the company’s stock worth $11,624,000 after buying an additional 385,233 shares during the period. Finally, HBK Investments L P purchased a new position in Kennametal during the first quarter worth approximately $2,411,000. Institutional investors own 97.26% of the company’s stock.
Kennametal Company Profile
Kennametal Inc (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.
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