Equities analysts expect Kennametal Inc. (NYSE:KMT) to report sales of $647.72 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kennametal’s earnings. The lowest sales estimate is $645.70 million and the highest is $651.00 million. Kennametal posted sales of $646.12 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.2%. The firm is expected to report its next quarterly earnings results on Monday, August 5th.

According to Zacks, analysts expect that Kennametal will report full year sales of $2.42 billion for the current year, with estimates ranging from $2.42 billion to $2.43 billion. For the next financial year, analysts forecast that the company will post sales of $2.49 billion, with estimates ranging from $2.45 billion to $2.51 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Kennametal.

Kennametal (NYSE:KMT) last issued its earnings results on Monday, May 6th. The industrial products company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.02). Kennametal had a return on equity of 19.66% and a net margin of 10.28%. The company had revenue of $597.20 million for the quarter, compared to analyst estimates of $626.27 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis.

A number of research analysts recently commented on the company. Barclays upgraded Kennametal from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $44.00 in a report on Wednesday, April 3rd. ValuEngine cut Kennametal from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. KeyCorp decreased their price objective on Kennametal from $52.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Finally, Zacks Investment Research cut Kennametal from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.00.

In other news, VP Peter A. Dragich sold 35,346 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $38.59, for a total transaction of $1,364,002.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Patrick S. Watson sold 2,265 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $37.93, for a total value of $85,911.45. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Kennametal by 3.2% during the fourth quarter. BlackRock Inc. now owns 9,522,676 shares of the industrial products company’s stock worth $316,914,000 after acquiring an additional 293,975 shares during the period. Vanguard Group Inc. increased its position in shares of Kennametal by 0.4% during the third quarter. Vanguard Group Inc. now owns 7,935,351 shares of the industrial products company’s stock worth $345,664,000 after acquiring an additional 32,739 shares during the period. Lazard Asset Management LLC increased its position in shares of Kennametal by 20.2% during the first quarter. Lazard Asset Management LLC now owns 5,622,390 shares of the industrial products company’s stock worth $206,622,000 after acquiring an additional 945,630 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of Kennametal by 7.2% during the first quarter. ArrowMark Colorado Holdings LLC now owns 3,663,999 shares of the industrial products company’s stock worth $134,652,000 after acquiring an additional 246,789 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Kennametal by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,611,973 shares of the industrial products company’s stock worth $95,990,000 after acquiring an additional 91,385 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

KMT traded up $0.18 during trading hours on Friday, reaching $34.28. The company’s stock had a trading volume of 836,613 shares, compared to its average volume of 647,249. Kennametal has a fifty-two week low of $30.32 and a fifty-two week high of $45.10. The stock has a market capitalization of $2.81 billion, a PE ratio of 12.93, a P/E/G ratio of 1.34 and a beta of 2.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 2.70.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Monday, May 13th. Kennametal’s payout ratio is 30.19%.

Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

Featured Story: Dollar Cost Averaging

Get a free copy of the Zacks research report on Kennametal (KMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.