Kennametal’s (KMT) Hold Rating Reiterated at Loop Capital

Loop Capital reaffirmed their hold rating on shares of Kennametal (NYSE:KMT) in a research note released on Wednesday, MarketBeat.com reports. Loop Capital currently has a $24.00 price target on the industrial products company’s stock, up from their previous price target of $21.00.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley raised their target price on shares of Kennametal from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, Barclays raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.40.

Kennametal Stock Performance

NYSE:KMT opened at $23.03 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.76 billion, a P/E ratio of 16.56, a P/E/G ratio of 3.17 and a beta of 1.40. Kennametal has a fifty-two week low of $17.30 and a fifty-two week high of $32.18. The firm’s 50 day moving average is $21.23 and its two-hundred day moving average is $22.09.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The company had revenue of $486.40 million for the quarter, compared to the consensus estimate of $489.30 million. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. Kennametal’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. Analysts expect that Kennametal will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.47%. The ex-dividend date was Tuesday, May 13th. Kennametal’s dividend payout ratio (DPR) is 57.55%.

Institutional Investors Weigh In On Kennametal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Kennametal by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock worth $123,319,000 after buying an additional 101,159 shares during the period. Victory Capital Management Inc. increased its stake in Kennametal by 6.0% during the 1st quarter. Victory Capital Management Inc. now owns 3,218,394 shares of the industrial products company’s stock worth $68,552,000 after buying an additional 181,035 shares during the period. American Century Companies Inc. increased its stake in Kennametal by 9.2% during the 1st quarter. American Century Companies Inc. now owns 2,778,368 shares of the industrial products company’s stock worth $59,179,000 after buying an additional 234,395 shares during the period. Brandes Investment Partners LP increased its stake in Kennametal by 3.1% during the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock worth $61,819,000 after buying an additional 78,149 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Kennametal by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,529,095 shares of the industrial products company’s stock worth $32,570,000 after buying an additional 49,496 shares during the period.

Kennametal Company Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.