Kennametal (NYSE:KMT) Price Target Raised to $22.00

Kennametal (NYSE:KMT) had its target price raised by JPMorgan Chase & Co. from $20.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the industrial products company’s stock.

A number of other research analysts also recently commented on the company. Zacks Research raised Kennametal to a “strong sell” rating in a report on Monday, August 11th. UBS Group raised Kennametal from a “sell” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $21.00 in a report on Friday, August 15th. Loop Capital reaffirmed a “hold” rating and set a $24.00 target price (up previously from $21.00) on shares of Kennametal in a report on Wednesday, June 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kennametal in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $24.29.

Kennametal Trading Up 0.4%

NYSE:KMT opened at $22.24 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $21.20 and its two-hundred day moving average is $21.59. Kennametal has a 52 week low of $17.30 and a 52 week high of $32.18. The company has a market cap of $1.69 billion, a PE ratio of 18.53, a P/E/G ratio of 3.89 and a beta of 1.46.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The firm had revenue of $516.45 million for the quarter, compared to the consensus estimate of $527.52 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts predict that Kennametal will post 1.17 EPS for the current year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. Kennametal’s dividend payout ratio (DPR) is 66.67%.

Institutional Trading of Kennametal

Hedge funds have recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new stake in shares of Kennametal in the 2nd quarter worth approximately $27,000. Headlands Technologies LLC raised its stake in Kennametal by 80.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 682 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Kennametal by 116.2% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,600 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 860 shares in the last quarter. US Bancorp DE raised its stake in Kennametal by 93.4% during the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,036 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Kennametal by 142.3% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 1,228 shares in the last quarter.

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.