Kennametal Inc. (NYSE:KMT) – Jefferies Group lifted their Q4 2018 EPS estimates for Kennametal in a research report issued on Thursday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will earn $0.71 per share for the quarter, up from their previous forecast of $0.70. Jefferies Group currently has a “Buy” rating and a $50.00 target price on the stock.
Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.08). Kennametal had a return on equity of 12.51% and a net margin of 2.39%. The business had revenue of $565.03 million during the quarter, compared to analyst estimates of $562.16 million. During the same quarter last year, the company posted $0.44 EPS. Kennametal’s quarterly revenue was up 8.4% compared to the same quarter last year.
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Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price objective on shares of Kennametal in a research note on Wednesday, August 23rd. Stifel Nicolaus reiterated a “hold” rating on shares of Kennametal in a research note on Friday, August 4th. Wells Fargo & Company upgraded Kennametal from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $26.10 to $43.50 in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co upgraded Kennametal from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $43.00 in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Kennametal has a consensus rating of “Buy” and an average price target of $43.95.
Kennametal (KMT) opened at 40.51 on Friday. The company has a 50-day moving average of $37.26 and a 200 day moving average of $38.13. Kennametal has a one year low of $26.79 and a one year high of $43.09. The firm has a market cap of $3.27 billion, a P/E ratio of 66.41 and a beta of 1.94.
Several institutional investors have recently added to or reduced their stakes in KMT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Kennametal by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 272 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Kennametal during the second quarter worth approximately $211,000. Oakbrook Investments LLC raised its stake in shares of Kennametal by 2.6% during the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock worth $223,000 after purchasing an additional 150 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of Kennametal during the second quarter worth approximately $229,000. Finally, Capstone Asset Management Co. raised its stake in shares of Kennametal by 4.9% during the second quarter. Capstone Asset Management Co. now owns 6,155 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.
In related news, insider Christopher Rossi purchased 29,880 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $33.46 per share, for a total transaction of $999,784.80. Following the completion of the purchase, the insider now directly owns 29,850 shares of the company’s stock, valued at $998,781. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Charles Michael Jr. Byrnes purchased 1,900 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $33.00 per share, with a total value of $62,700.00. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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