Kennametal (NYSE:KMT) Given New $30.00 Price Target at Barclays

Kennametal (NYSE:KMT) had its price objective trimmed by Barclays from $31.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Several other research analysts have also commented on the stock. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Loop Capital lifted their price target on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their price objective on shares of Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target for the company. in a report on Friday, October 18th. Finally, Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $32.00 in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.67.

Kennametal Stock Up 1.7 %

Shares of NYSE KMT opened at $24.35 on Wednesday. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.26 and a beta of 1.67. Kennametal has a 52-week low of $22.50 and a 52-week high of $32.18. The company’s 50-day simple moving average is $26.86 and its 200-day simple moving average is $25.59. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. During the same quarter in the prior year, the firm earned $0.41 EPS. Kennametal’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts predict that Kennametal will post 1.44 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 annualized dividend and a yield of 3.29%. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity at Kennametal

In other Kennametal news, VP Franklin Cardenas sold 20,470 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the sale, the vice president now owns 39,581 shares of the company’s stock, valued at $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the sale, the vice president now directly owns 1,642 shares of the company’s stock, valued at $48,192.70. The trade was a 51.81 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in Kennametal by 33.5% in the third quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after acquiring an additional 1,567,867 shares during the last quarter. Burgundy Asset Management Ltd. grew its holdings in Kennametal by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock valued at $117,175,000 after buying an additional 67,327 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kennametal by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock valued at $110,248,000 after acquiring an additional 100,905 shares during the period. Brandes Investment Partners LP lifted its position in shares of Kennametal by 35.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock worth $54,798,000 after buying an additional 606,477 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Kennametal by 1.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,051,503 shares of the industrial products company’s stock valued at $48,292,000 after purchasing an additional 20,634 shares during the last quarter.

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.