FY2019 EPS Estimates for Kennametal Inc. (KMT) Boosted by Jefferies Group
Kennametal Inc. (NYSE:KMT) – Jefferies Group upped their FY2019 earnings estimates for shares of Kennametal in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will earn $3.20 per share for the year, up from their prior forecast of $3.00. Jefferies Group has a “Buy” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for Kennametal’s FY2020 earnings at $3.85 EPS.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business had revenue of $542.45 million during the quarter, compared to the consensus estimate of $516.80 million. During the same quarter last year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 13.6% on a year-over-year basis.
Shares of Kennametal (NYSE KMT) traded up $0.21 during trading on Thursday, reaching $46.78. The company’s stock had a trading volume of 1,286,361 shares, compared to its average volume of 916,052. Kennametal has a fifty-two week low of $31.12 and a fifty-two week high of $48.91. The firm has a market cap of $3,770.00, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 2.28 and a beta of 1.98. The company has a quick ratio of 1.41, a current ratio of 2.71 and a debt-to-equity ratio of 0.63.
Several institutional investors have recently bought and sold shares of the stock. Granahan Investment Management Inc. MA lifted its stake in shares of Kennametal by 1.6% in the third quarter. Granahan Investment Management Inc. MA now owns 94,429 shares of the industrial products company’s stock worth $3,809,000 after acquiring an additional 1,477 shares during the period. Janus Henderson Group PLC increased its holdings in Kennametal by 23.3% in the third quarter. Janus Henderson Group PLC now owns 2,509,518 shares of the industrial products company’s stock worth $101,234,000 after purchasing an additional 474,225 shares in the last quarter. PEAK6 Investments L.P. increased its holdings in Kennametal by 25.9% in the third quarter. PEAK6 Investments L.P. now owns 7,673 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 1,578 shares in the last quarter. AMP Capital Investors Ltd increased its holdings in Kennametal by 11.6% in the third quarter. AMP Capital Investors Ltd now owns 155,669 shares of the industrial products company’s stock worth $6,280,000 after purchasing an additional 16,172 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Kennametal by 115.1% in the third quarter. Allianz Asset Management GmbH now owns 59,472 shares of the industrial products company’s stock worth $2,399,000 after purchasing an additional 31,827 shares in the last quarter. 98.67% of the stock is currently owned by institutional investors.
In other news, Director Timothy R. Mclevish sold 20,000 shares of Kennametal stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the sale, the director now directly owns 66,904 shares of the company’s stock, valued at $3,211,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven H. Wunning sold 4,445 shares of Kennametal stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $46.63, for a total value of $207,270.35. Following the sale, the director now directly owns 29,693 shares in the company, valued at $1,384,584.59. The disclosure for this sale can be found here. Insiders sold 59,570 shares of company stock worth $2,816,345 over the last ninety days. 2.00% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.71%. The ex-dividend date was Monday, November 13th. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.
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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.
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