Kennametal Inc. (NYSE:KMT) – Equities research analysts at KeyCorp boosted their FY2021 earnings per share (EPS) estimates for shares of Kennametal in a research note issued to investors on Wednesday, May 5th. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings of $0.91 per share for the year, up from their previous forecast of $0.73. KeyCorp also issued estimates for Kennametal’s Q4 2021 earnings at $0.40 EPS, Q3 2022 earnings at $0.48 EPS, Q4 2022 earnings at $0.59 EPS and FY2022 earnings at $1.73 EPS.
KMT has been the subject of several other reports. Jefferies Financial Group lifted their price target on Kennametal from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, January 15th. Morgan Stanley boosted their target price on Kennametal from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 5th. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating and set a $38.00 price target for the company. in a research note on Thursday, February 4th. BMO Capital Markets boosted their target price on Kennametal from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Wednesday, February 3rd. Finally, UBS Group lowered Kennametal from a “buy” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $35.00 in a research report on Monday, February 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Kennametal currently has a consensus rating of “Hold” and an average price target of $36.22.
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Shares of Kennametal stock opened at $41.81 on Monday. The firm has a market capitalization of $3.50 billion, a P/E ratio of -101.98, a price-to-earnings-growth ratio of 9.80 and a beta of 2.09. The business’s fifty day simple moving average is $40.99 and its 200 day simple moving average is $37.80. The company has a current ratio of 2.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. Kennametal has a 12 month low of $20.40 and a 12 month high of $43.04. Kennametal (NYSE:KMT) last announced its quarterly earnings data on Sunday, May 2nd. The industrial products company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.11. Kennametal had a positive return on equity of 5.19% and a negative net margin of 1.91%. The firm had revenue of $484.66 million during the quarter, compared to analysts’ expectations of $471.43 million. During the same quarter last year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 25th. Investors of record on Tuesday, May 11th will be given a $0.20 dividend. The ex-dividend date is Monday, May 10th. This represents a $0.80 annualized dividend and a yield of 1.91%. Kennametal’s dividend payout ratio is currently 85.11%.
In related news, VP Judith L. Bacchus sold 20,922 shares of the business’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $40.53, for a total value of $847,968.66. Following the completion of the transaction, the vice president now owns 28,696 shares of the company’s stock, valued at $1,163,048.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cindy L. Davis sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $40.50, for a total transaction of $567,000.00. Following the completion of the transaction, the director now directly owns 28,588 shares of the company’s stock, valued at approximately $1,157,814. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KMT. CI Investments Inc. purchased a new stake in shares of Kennametal during the fourth quarter valued at $28,000. Samalin Investment Counsel LLC acquired a new position in shares of Kennametal in the fourth quarter worth about $36,000. Zeke Capital Advisors LLC acquired a new position in shares of Kennametal in the first quarter worth about $220,000. LPL Financial LLC acquired a new position in shares of Kennametal in the fourth quarter worth about $208,000. Finally, Uncommon Cents Investing LLC acquired a new position in shares of Kennametal during the 4th quarter worth about $227,000.
Kennametal Company Profile
Kennametal Inc develops and applies 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. It operates through three segments: Industrial, Widia, and Infrastructure.
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