BidaskClub lowered shares of Kennametal Inc. (NYSE:KMT) from a sell rating to a strong sell rating in a report issued on Saturday morning.

Other equities analysts have also issued research reports about the stock. Jefferies Group LLC reiterated a buy rating and set a $50.00 price objective (up previously from $47.00) on shares of Kennametal in a report on Saturday, April 29th. Barrington Research upped their price objective on shares of Kennametal from $45.00 to $50.00 and gave the company an outperform rating in a report on Thursday, April 27th. Stifel Nicolaus reiterated a hold rating on shares of Kennametal in a report on Friday, August 4th. Wells Fargo & Company upgraded shares of Kennametal from a market perform rating to an outperform rating and upped their price objective for the company from $26.10 to $43.50 in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Kennametal from a buy rating to a hold rating in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $42.77.

Shares of Kennametal (NYSE:KMT) opened at 33.97 on Friday. The firm has a 50 day moving average price of $37.47 and a 200 day moving average price of $38.36. The firm has a market cap of $2.74 billion, a P/E ratio of 55.69 and a beta of 1.89. Kennametal has a 1-year low of $26.10 and a 1-year high of $43.09.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.64 by $0.08. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The company had revenue of $565.03 million for the quarter, compared to analyst estimates of $562.16 million. During the same quarter in the prior year, the company posted $0.44 EPS. Kennametal’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that Kennametal will post $2.20 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.36%. Kennametal’s dividend payout ratio is presently 133.33%.

In other Kennametal news, Director Philip A. Dur sold 7,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $40.01, for a total value of $280,070.00. Following the completion of the sale, the director now owns 22,024 shares in the company, valued at approximately $881,180.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Ledyard National Bank purchased a new stake in Kennametal during the first quarter valued at approximately $120,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kennametal by 8.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after buying an additional 272 shares during the period. Koch Industries Inc. purchased a new stake in Kennametal during the second quarter valued at approximately $211,000. CIBC World Markets Inc. purchased a new stake in Kennametal during the first quarter valued at approximately $218,000. Finally, Oakbrook Investments LLC raised its stake in Kennametal by 2.6% in the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock valued at $223,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 96.76% of the company’s stock.

Kennametal Company Profile

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.

Analyst Recommendations for Kennametal (NYSE:KMT)

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