Kennametal Inc. (NYSE:KMT) – Equities research analysts at Jefferies Financial Group cut their Q3 2019 earnings per share estimates for shares of Kennametal in a report released on Tuesday, February 5th. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will earn $0.80 per share for the quarter, down from their prior forecast of $0.90. Jefferies Financial Group also issued estimates for Kennametal’s Q4 2019 earnings at $0.99 EPS and FY2019 earnings at $3.20 EPS.
Kennametal (NYSE:KMT) last released its earnings results on Monday, February 4th. The industrial products company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kennametal had a return on equity of 19.73% and a net margin of 9.50%. The company had revenue of $587.40 million during the quarter, compared to the consensus estimate of $606.76 million. During the same quarter last year, the company earned $0.52 earnings per share. Kennametal’s quarterly revenue was up 2.8% compared to the same quarter last year.
A number of other equities research analysts also recently commented on KMT. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Friday, October 12th. ValuEngine cut Kennametal from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Bank of America dropped their price target on Kennametal from $40.00 to $35.00 and set an “underperform” rating for the company in a research report on Tuesday, November 6th. Finally, Barclays dropped their price target on Kennametal from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, January 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Kennametal currently has a consensus rating of “Hold” and an average target price of $46.10.
Kennametal stock opened at $36.77 on Thursday. Kennametal has a one year low of $30.32 and a one year high of $45.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.72 and a quick ratio of 1.26. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 2.39 and a beta of 2.05.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, February 11th. Kennametal’s dividend payout ratio is currently 30.19%.
In related news, VP Michelle R. Keating sold 1,890 shares of Kennametal stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $37.51, for a total transaction of $70,893.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Judith L. Bacchus sold 5,000 shares of Kennametal stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $42.70, for a total value of $213,500.00. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Pearl River Capital LLC purchased a new stake in Kennametal during the 4th quarter worth about $30,000. Oregon Public Employees Retirement Fund increased its position in Kennametal by 3,277.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,990 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,055,775 shares in the last quarter. Advisors Asset Management Inc. increased its position in Kennametal by 39,914.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 641,432 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 639,829 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Kennametal during the 4th quarter worth about $170,000. Finally, LS Investment Advisors LLC increased its position in Kennametal by 32.1% during the 4th quarter. LS Investment Advisors LLC now owns 6,010 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 1,461 shares in the last quarter. Hedge funds and other institutional investors own 99.78% of the company’s stock.
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.