Kennametal (NYSE:KMT) Given New $30.00 Price Target at Barclays

Kennametal (NYSE:KMT) had its price objective cut by Barclays from $31.00 to $30.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

KMT has been the subject of several other research reports. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research report on Friday, October 18th. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Loop Capital raised their price target on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley boosted their target price on Kennametal from $24.50 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.67.

Kennametal Price Performance

Shares of NYSE:KMT opened at $23.93 on Wednesday. Kennametal has a 12 month low of $22.50 and a 12 month high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The stock’s 50 day moving average price is $26.84 and its 200 day moving average price is $25.58. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.26 and a beta of 1.67.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. Equities research analysts anticipate that Kennametal will post 1.44 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 annualized dividend and a dividend yield of 3.34%. Kennametal’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, VP Franklin Cardenas sold 20,470 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the transaction, the vice president now owns 39,581 shares of the company’s stock, valued at $1,117,767.44. This represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the sale, the vice president now directly owns 1,642 shares in the company, valued at $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.41% of the stock is owned by corporate insiders.

Institutional Trading of Kennametal

Several institutional investors have recently added to or reduced their stakes in KMT. GAMMA Investing LLC increased its position in shares of Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after buying an additional 459 shares during the period. JPMorgan Chase & Co. raised its stake in Kennametal by 48.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 242,439 shares of the industrial products company’s stock worth $6,286,000 after buying an additional 79,547 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Kennametal in the third quarter worth approximately $30,000. Sanctuary Advisors LLC grew its stake in Kennametal by 19.3% in the third quarter. Sanctuary Advisors LLC now owns 22,402 shares of the industrial products company’s stock valued at $581,000 after acquiring an additional 3,627 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Kennametal during the third quarter valued at approximately $342,000.

Kennametal Company Profile

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.