Shares of Kennametal Inc. (NYSE:KMT) have been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $32.25.

A number of equities research analysts recently weighed in on KMT shares. BMO Capital Markets boosted their price target on shares of Kennametal from $18.00 to $29.00 in a research report on Wednesday, June 10th. Barclays cut shares of Kennametal from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $34.00 to $32.00 in a research report on Monday, August 10th. Wells Fargo & Company boosted their price target on shares of Kennametal from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. KeyCorp boosted their price target on shares of Kennametal from $30.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Finally, Morgan Stanley reduced their price target on shares of Kennametal from $33.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th.

Several large investors have recently made changes to their positions in KMT. Wellington Management Group LLP raised its holdings in shares of Kennametal by 36.8% in the first quarter. Wellington Management Group LLP now owns 8,132,544 shares of the industrial products company’s stock valued at $151,427,000 after buying an additional 2,188,320 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Kennametal by 184.4% during the second quarter. Nuveen Asset Management LLC now owns 2,800,799 shares of the industrial products company’s stock worth $80,412,000 after acquiring an additional 1,815,867 shares during the period. Victory Capital Management Inc. increased its stake in shares of Kennametal by 136.8% during the second quarter. Victory Capital Management Inc. now owns 2,014,041 shares of the industrial products company’s stock worth $57,823,000 after acquiring an additional 1,163,600 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in shares of Kennametal by 75.1% during the first quarter. ArrowMark Colorado Holdings LLC now owns 2,582,130 shares of the industrial products company’s stock worth $48,079,000 after acquiring an additional 1,107,252 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Kennametal by 23.8% during the first quarter. Alliancebernstein L.P. now owns 3,574,494 shares of the industrial products company’s stock worth $66,557,000 after acquiring an additional 686,785 shares during the period.

Kennametal stock opened at $32.09 on Friday. The stock has a market cap of $2.66 billion, a P/E ratio of -458.36, a price-to-earnings-growth ratio of 6.74 and a beta of 2.36. The company has a fifty day simple moving average of $29.52 and a 200-day simple moving average of $25.98. Kennametal has a 12-month low of $14.45 and a 12-month high of $38.73. The company has a current ratio of 1.60, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Monday, August 3rd. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $379.05 million during the quarter, compared to analysts’ expectations of $398.03 million. Kennametal had a negative net margin of 0.30% and a positive return on equity of 6.01%. The company’s revenue for the quarter was down 37.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. As a group, sell-side analysts forecast that Kennametal will post 0.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.49%. Kennametal’s payout ratio is 85.11%.

Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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Analyst Recommendations for Kennametal (NYSE:KMT)

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