Kennametal (KMT) Stock Rating Reaffirmed by Barrington Research
Barrington Research reissued their outperform rating on shares of Kennametal (NYSE:KMT) in a research report report published on Thursday morning, MarketBeat.com reports. They currently have a $53.00 target price on the industrial products company’s stock. Barrington Research also issued estimates for Kennametal’s Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.74 EPS, Q1 2019 earnings at $0.64 EPS, Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.77 EPS, Q4 2019 earnings at $0.83 EPS and FY2019 earnings at $2.94 EPS.
Several other equities analysts also recently weighed in on KMT. JPMorgan Chase & Co. downgraded Kennametal from an overweight rating to a neutral rating in a research report on Monday, February 5th. Stifel Nicolaus boosted their target price on Kennametal from $50.00 to $52.00 and gave the company a hold rating in a research report on Sunday, February 4th. ValuEngine raised Kennametal from a hold rating to a buy rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded Kennametal from a buy rating to a hold rating in a research report on Thursday, February 1st. Finally, Bank of America boosted their target price on Kennametal from $51.00 to $52.00 and gave the company a neutral rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $50.25.
Kennametal (KMT) opened at $42.59 on Thursday. The firm has a market capitalization of $3,474.19, a P/E ratio of 19.10, a PEG ratio of 1.98 and a beta of 1.95. The company has a current ratio of 2.77, a quick ratio of 1.52 and a debt-to-equity ratio of 0.60. Kennametal has a 12-month low of $32.23 and a 12-month high of $52.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 13th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, February 12th. Kennametal’s dividend payout ratio (DPR) is presently 45.45%.
In other Kennametal news, VP Judith L. Bacchus sold 18,125 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $47.00, for a total value of $851,875.00. Following the transaction, the vice president now owns 38,528 shares of the company’s stock, valued at approximately $1,810,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy R. Mclevish sold 7,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.00, for a total value of $329,000.00. Following the completion of the transaction, the director now directly owns 78,904 shares in the company, valued at approximately $3,708,488. The disclosure for this sale can be found here. Insiders sold a total of 45,125 shares of company stock worth $2,140,875 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Fortaleza Asset Management Inc. bought a new position in Kennametal in the 3rd quarter valued at $115,000. Hartford Investment Management Co. bought a new position in Kennametal in the 3rd quarter valued at $202,000. World Asset Management Inc bought a new position in Kennametal in the 3rd quarter valued at $207,000. Trexquant Investment LP bought a new position in Kennametal in the 3rd quarter valued at $207,000. Finally, Koch Industries Inc. purchased a new stake in shares of Kennametal in the 2nd quarter worth $211,000. 98.11% of the stock is currently owned by institutional investors.
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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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