Kennametal Inc. (NYSE:KMT) – Equities research analysts at Jefferies Group increased their Q3 2018 earnings per share estimates for Kennametal in a research note issued to investors on Thursday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will earn $0.80 per share for the quarter, up from their prior estimate of $0.75. Jefferies Group currently has a “Buy” rating and a $55.00 target price on the stock. Jefferies Group also issued estimates for Kennametal’s FY2018 earnings at $2.55 EPS, FY2019 earnings at $3.00 EPS and FY2020 earnings at $3.50 EPS.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.17. The company had revenue of $542.45 million for the quarter, compared to analysts’ expectations of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. Kennametal’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. TRADEMARK VIOLATION NOTICE: “Q3 2018 EPS Estimates for Kennametal Inc. (KMT) Lifted by Jefferies Group” was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://transcriptdaily.com/2017/11/09/q3-2018-eps-estimates-for-kennametal-inc-kmt-lifted-by-jefferies-group.html.
Several other research firms have also recently weighed in on KMT. Credit Suisse Group upped their price objective on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. TheStreet upgraded shares of Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. BMO Capital Markets reiterated a “hold” rating and set a $45.00 price target on shares of Kennametal in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, October 4th. Finally, BidaskClub cut shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $45.23.
Kennametal (NYSE:KMT) traded down $0.49 during mid-day trading on Monday, hitting $44.89. 870,386 shares of the company traded hands, compared to its average volume of 810,231. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.41 and a current ratio of 2.71. The company has a market capitalization of $3,630.00, a PE ratio of 23.52, a price-to-earnings-growth ratio of 2.21 and a beta of 1.95. Kennametal has a one year low of $29.02 and a one year high of $48.89.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, November 13th. Kennametal’s dividend payout ratio is currently 59.26%.
In related news, VP Charles Michael Jr. Byrnes purchased 1,900 shares of Kennametal stock in a transaction dated Friday, August 18th. The stock was purchased at an average cost of $33.00 per share, for a total transaction of $62,700.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven H. Wunning sold 4,445 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $46.63, for a total value of $207,270.35. Following the transaction, the director now owns 29,693 shares of the company’s stock, valued at $1,384,584.59. The disclosure for this sale can be found here. Insiders have sold 15,015 shares of company stock valued at $695,563 in the last three months. Insiders own 2.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Fortaleza Asset Management Inc. bought a new position in shares of Kennametal during the third quarter valued at $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 valued at $133,000 after acquiring an additional 272 shares in the last quarter. World Asset Management Inc bought a new position in shares of Kennametal during the third quarter valued at $207,000. Koch Industries Inc. bought a new position in shares of Kennametal during the second quarter valued at $211,000. Finally, Oakbrook Investments LLC increased its holdings in Kennametal by 2.6% in the 2nd quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock worth $223,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 96.75% of the company’s stock.
Kennametal Company Profile
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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