Kennametal (KMT) Receives Coverage Optimism Score of 0.17
Media stories about Kennametal (NYSE:KMT) have trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Kennametal earned a media sentiment score of 0.17 on Accern’s scale. Accern also gave media coverage about the industrial products company an impact score of 46.7991644491703 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Several research analysts have commented on the stock. BMO Capital Markets restated a “hold” rating and set a $45.00 price objective on shares of Kennametal in a research report on Wednesday, August 23rd. BidaskClub downgraded shares of Kennametal from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. J P Morgan Chase & Co upgraded shares of Kennametal from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $43.00 in a research report on Thursday, August 17th. Wells Fargo & Company upgraded shares of Kennametal from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $26.10 to $43.50 in a research report on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Kennametal currently has an average rating of “Hold” and a consensus target price of $45.23.
Shares of Kennametal (NYSE:KMT) traded down $1.22 during trading hours on Thursday, hitting $42.34. 804,800 shares of the stock traded hands, compared to its average volume of 917,262. The firm has a market capitalization of $3,490.00, a P/E ratio of 22.34, a PEG ratio of 2.06 and a beta of 1.95. The company has a quick ratio of 1.41, a current ratio of 2.71 and a debt-to-equity ratio of 0.63. Kennametal has a 52 week low of $31.12 and a 52 week high of $48.89.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.17. The company had revenue of $542.45 million during the quarter, compared to the consensus estimate of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The company’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. sell-side analysts expect that Kennametal will post 2.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.89%. Kennametal’s dividend payout ratio (DPR) is presently 59.26%.
In other Kennametal news, VP Charles Michael Jr. Byrnes acquired 1,900 shares of Kennametal stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $33.00 per share, with a total value of $62,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Rossi acquired 29,880 shares of Kennametal stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average cost of $33.46 per share, for a total transaction of $999,784.80. Following the purchase, the insider now owns 29,850 shares of the company’s stock, valued at $998,781. The disclosure for this purchase can be found here. Insiders have sold 15,015 shares of company stock valued at $695,563 over the last quarter. Company insiders own 2.00% of the company’s stock.
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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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