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.

Several other research firms have also recently weighed in on KMT. BMO Capital Markets reiterated a “hold” rating and set a $45.00 price objective on shares of Kennametal in a research report on Friday, October 20th. J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $43.00 in a research report on Thursday, August 17th. Credit Suisse Group increased their price objective on Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Wednesday, October 4th. Finally, TheStreet upgraded Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $45.86.

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%.

WARNING: This piece of content was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/12/15/fy2019-eps-estimates-for-kennametal-inc-kmt-boosted-by-jefferies-group.html.

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.

Earnings History and Estimates for Kennametal (NYSE:KMT)

Receive News & Stock Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related stocks with our FREE daily email newsletter.