Kennametal Inc. (KMT) Lowered to “Strong Sell” at BidaskClub
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.
WARNING: This report was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another website, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/08/16/kennametal-inc-kmt-lowered-to-strong-sell-at-bidaskclub.html.
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.
Receive News & Stock Ratings for Kennametal Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal Inc. and related stocks with our FREE daily email newsletter.