Kennametal Inc. (KMT) To Go Ex-Dividend on November 9th

Kennametal Inc. (NYSE:KMT) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, November 9th will be given a dividend of $0.20 per share by the industrial products company on Monday, November 23rd. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 9th.

Kennametal has a payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kennametal to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 35.6%.

Kennametal Stock Down 0.7%

KMT stock opened at $23.06 on Friday. Kennametal has a twelve month low of $22.65 and a twelve month high of $43.81. The company has a quick ratio of 0.98, a current ratio of 2.62 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average of $30.10 and a 200 day moving average of $34.42. The firm has a market cap of $1.76 billion, a PE ratio of 3.04, a price-to-earnings-growth ratio of 0.30 and a beta of 1.30.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.83. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The firm had revenue of $768.19 million during the quarter, compared to analysts’ expectations of $770.36 million. During the same period in the previous year, the company earned $0.34 earnings per share. Kennametal’s quarterly revenue was up 54.3% compared to the same quarter last year. On average, research analysts forecast that Kennametal will post 5.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. DA Davidson lowered their price objective on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. dropped their price target on shares of Kennametal from $30.00 to $27.00 and set an “underweight” rating on the stock in a research note on Thursday. Weiss Ratings cut shares of Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. UBS Group dropped their price target on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Kennametal from a “strong-buy” rating to a “buy” rating in a report on Saturday. Five investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Kennametal presently has a consensus rating of “Reduce” and a consensus price target of $33.07.

Kennametal Company Profile

Kennametal Inc (NYSE: KMT) is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.

The company’s offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.

Founded in 1938 by Philip M.