Kennametal Inc. (NYSE:KMT) – Analysts at Jefferies Financial Group reduced their Q2 2020 earnings estimates for shares of Kennametal in a research report issued to clients and investors on Tuesday, November 5th. Jefferies Financial Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $0.20 per share for the quarter, down from their previous estimate of $0.40. Jefferies Financial Group also issued estimates for Kennametal’s Q3 2020 earnings at $0.60 EPS and Q4 2020 earnings at $0.83 EPS.
A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Kennametal from a “hold” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research note on Thursday, October 10th. Longbow Research lowered shares of Kennametal from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Co dropped their price objective on shares of Kennametal from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. UBS Group dropped their price objective on shares of Kennametal from $35.00 to $27.00 and set a “sell” rating on the stock in a research note on Wednesday, August 21st. Finally, ValuEngine upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $32.75.
NYSE KMT opened at $34.00 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.34 and a current ratio of 2.54. The firm has a market cap of $2.78 billion, a PE ratio of 11.26, a P/E/G ratio of 2.23 and a beta of 2.28. Kennametal has a one year low of $27.49 and a one year high of $43.98. The firm’s fifty day moving average is $30.87 and its two-hundred day moving average is $32.81.
Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $518.09 million for the quarter, compared to analyst estimates of $517.49 million. Kennametal had a net margin of 8.31% and a return on equity of 15.40%. Kennametal’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.35%. Kennametal’s dividend payout ratio (DPR) is 26.49%.
In other news, Director Cindy L. Davis sold 4,644 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $34.15, for a total transaction of $158,592.60. Following the transaction, the director now directly owns 11,529 shares in the company, valued at $393,715.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.48% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Kennametal by 1.5% during the second quarter. BlackRock Inc. now owns 9,669,598 shares of the industrial products company’s stock worth $357,679,000 after acquiring an additional 147,035 shares during the period. Invesco Ltd. increased its stake in shares of Kennametal by 11.2% during the second quarter. Invesco Ltd. now owns 2,789,651 shares of the industrial products company’s stock worth $103,189,000 after acquiring an additional 281,656 shares during the period. Northern Trust Corp increased its stake in shares of Kennametal by 2.1% during the second quarter. Northern Trust Corp now owns 1,617,215 shares of the industrial products company’s stock worth $59,821,000 after acquiring an additional 33,560 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Kennametal by 14.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,285,103 shares of the industrial products company’s stock worth $39,504,000 after acquiring an additional 157,464 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of Kennametal by 752.3% during the second quarter. Nuveen Asset Management LLC now owns 680,895 shares of the industrial products company’s stock worth $25,187,000 after acquiring an additional 601,004 shares during the period. Institutional investors and hedge funds own 98.05% of the company’s stock.
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.
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