Kennametal (NYSE:KMT) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Kennametal (NYSE:KMT) from a sell rating to a hold rating in a report issued on Monday, February 4th.

A number of other analysts also recently issued reports on KMT. Zacks Investment Research downgraded Kennametal from a hold rating to a sell rating in a research report on Tuesday, January 29th. Barclays lowered their target price on Kennametal from $41.00 to $38.00 and set an equal weight rating on the stock in a research report on Monday, January 7th. Finally, Bank of America lowered their price target on Kennametal from $40.00 to $35.00 and set an underperform rating on the stock in a research report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $46.10.

KMT stock opened at $37.69 on Monday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.29 and a beta of 2.05. Kennametal has a 1-year low of $30.32 and a 1-year high of $45.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.31 and a current ratio of 2.72.

Kennametal (NYSE:KMT) last issued its quarterly earnings results on Monday, February 4th. The industrial products company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $587.40 million for the quarter, compared to analyst estimates of $606.76 million. Kennametal had a return on equity of 19.73% and a net margin of 9.50%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. Analysts predict that Kennametal will post 3.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 12th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, February 11th. Kennametal’s payout ratio is presently 30.19%.

In other news, VP Peter A. Dragich sold 35,346 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $38.59, for a total transaction of $1,364,002.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michelle R. Keating sold 1,890 shares of the company’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $37.51, for a total transaction of $70,893.90. The disclosure for this sale can be found here. Insiders have sold 44,501 shares of company stock valued at $1,734,307 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new position in shares of Kennametal during the 4th quarter worth about $30,000. Oregon Public Employees Retirement Fund boosted its position in shares of Kennametal by 3,277.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,990 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,055,775 shares in the last quarter. Captrust Financial Advisors bought a new position in Kennametal in the 4th quarter valued at about $44,000. Advisors Asset Management Inc. lifted its position in Kennametal by 39,914.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 641,432 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 639,829 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Kennametal in the 4th quarter valued at about $170,000. 99.85% of the stock is currently owned by institutional investors.

About Kennametal

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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