Kennametal Inc. (KMT) Given Consensus Recommendation of “Buy” by Analysts
Kennametal Inc. (NYSE:KMT) has earned an average rating of “Buy” from the twelve brokerages that are currently covering the firm. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $37.50.
A number of research analysts recently weighed in on the company. Bank of America Corp raised Kennametal from an “underperform” rating to a “neutral” rating and set a $36.00 price objective on the stock in a report on Friday, January 13th. BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 price objective on shares of Kennametal in a report on Friday, January 13th. Longbow Research raised Kennametal from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 1st. Seaport Global Securities raised Kennametal from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $28.00 to $50.00 in a report on Friday, February 3rd. Finally, KeyCorp raised Kennametal from a “sector weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a report on Tuesday, January 10th.
A number of hedge funds have recently bought and sold shares of KMT. Franklin Resources Inc. raised its stake in Kennametal by 139.9% in the fourth quarter. Franklin Resources Inc. now owns 2,140,367 shares of the company’s stock valued at $66,909,000 after buying an additional 1,248,291 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in Kennametal during the third quarter valued at $29,756,000. Appaloosa LP purchased a new stake in Kennametal during the fourth quarter valued at $31,561,000. TIAA CREF Investment Management LLC raised its stake in Kennametal by 338.5% in the third quarter. TIAA CREF Investment Management LLC now owns 1,258,707 shares of the company’s stock valued at $36,528,000 after buying an additional 971,653 shares during the period. Finally, Norges Bank purchased a new stake in Kennametal during the fourth quarter valued at $25,446,000. 99.15% of the stock is currently owned by institutional investors.
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Shares of Kennametal (NYSE:KMT) opened at 38.54 on Tuesday. Kennametal has a 52 week low of $20.40 and a 52 week high of $39.94. The firm’s market capitalization is $3.09 billion. The firm has a 50 day moving average price of $37.85 and a 200-day moving average price of $32.79.
Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. Kennametal had a positive return on equity of 9.14% and a negative net margin of 3.27%. The firm had revenue of $488 million for the quarter, compared to analyst estimates of $488.72 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. Kennametal’s quarterly revenue was down 6.9% on a year-over-year basis. Equities research analysts predict that Kennametal will post $1.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, February 10th. Kennametal’s dividend payout ratio (DPR) is -98.76%.
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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