Barclays Lowers Kennametal (NYSE:KMT) Price Target to $24.00

Kennametal (NYSE:KMT) had its price target trimmed by Barclays from $25.00 to $24.00 in a report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

KMT has been the topic of several other research reports. Morgan Stanley cut their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $32.00 in a research report on Friday, December 6th. Finally, StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.40.

Kennametal Price Performance

KMT stock opened at $21.62 on Wednesday. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 3.69 and a beta of 1.69. The firm’s 50-day moving average price is $22.46 and its two-hundred day moving average price is $24.84. The company has a current ratio of 2.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. Kennametal has a 12-month low of $20.50 and a 12-month high of $32.18.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. As a group, equities analysts predict that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.70%. The ex-dividend date was Tuesday, February 11th. Kennametal’s payout ratio is currently 65.57%.

Insider Buying and Selling at Kennametal

In related news, CEO Sanjay Chowbey purchased 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, with a total value of $217,500.00. Following the transaction, the chief executive officer now directly owns 77,595 shares in the company, valued at $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.41% of the company’s stock.

Institutional Trading of Kennametal

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Kennametal by 33.5% during 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 buying an additional 1,567,867 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Kennametal by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,134,051 shares of the industrial products company’s stock valued at $123,319,000 after purchasing an additional 101,159 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Kennametal by 3.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,573,638 shares of the industrial products company’s stock worth $61,819,000 after purchasing an additional 78,149 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Kennametal by 13.8% in the fourth quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock worth $61,106,000 after purchasing an additional 308,000 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Kennametal during the fourth quarter valued at $59,207,000.

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.