Kennametal (NYSE:KMT) Upgraded at StockNews.com

StockNews.com upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a buy rating in a research report released on Friday morning.

KMT has been the topic of several other reports. Barclays increased their price target on Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Morgan Stanley raised their target price on Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Kennametal currently has an average rating of “Hold” and an average price target of $25.80.

Kennametal Price Performance

Shares of NYSE KMT opened at $21.87 on Friday. Kennametal has a 52 week low of $17.30 and a 52 week high of $32.18. The business’s 50 day moving average price is $20.23 and its 200 day moving average price is $23.36. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.67 billion, a P/E ratio of 17.93, a P/E/G ratio of 3.69 and a beta of 1.39.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.26 by $0.21. The business had revenue of $486.40 million during the quarter, compared to analysts’ expectations of $489.30 million. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. On average, sell-side analysts expect that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Tuesday, May 13th. Kennametal’s payout ratio is currently 57.55%.

Institutional Investors Weigh In On Kennametal

Institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. purchased a new position in Kennametal during the fourth quarter worth approximately $59,207,000. Bridgeway Capital Management LLC purchased a new position in shares of Kennametal during the 1st quarter valued at approximately $11,801,000. Cooper Haims Advisors LLC acquired a new stake in Kennametal in the 1st quarter valued at $7,453,000. Empowered Funds LLC purchased a new stake in Kennametal in the 1st quarter worth $7,009,000. Finally, American Century Companies Inc. increased its holdings in Kennametal by 13.8% in the 4th quarter. American Century Companies Inc. now owns 2,543,973 shares of the industrial products company’s stock worth $61,106,000 after acquiring an additional 308,000 shares in the last quarter.

Kennametal Company Profile

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.