Kennametal Inc. Plans Quarterly Dividend of $0.20 (NYSE:KMT)

Kennametal Inc. (NYSE:KMT) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.20 per share by the industrial products company on Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Tuesday, November 12th.

Kennametal has a dividend payout ratio of 55.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kennametal to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 47.9%.

Kennametal Stock Up 0.4 %

Shares of NYSE:KMT opened at $29.48 on Friday. The business has a fifty day simple moving average of $25.68 and a 200 day simple moving average of $25.03. Kennametal has a 12-month low of $22.43 and a 12-month high of $32.18. The firm has a market cap of $2.29 billion, a P/E ratio of 23.03, a P/E/G ratio of 3.48 and a beta of 1.64. The company has a quick ratio of 1.17, a current ratio of 2.52 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The company had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. Analysts predict that Kennametal will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Loop Capital upped their price objective on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research report on Friday, October 18th. Barclays boosted their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Kennametal currently has an average rating of “Hold” and a consensus target price of $24.60.

About Kennametal

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.