Several other equities research analysts have also recently commented on KMT. Zacks Investment Research cut Kennametal from a strong-buy rating to a hold rating in a research note on Tuesday, July 5th. Bank of America Corp. cut Kennametal from a neutral rating to an underperform rating in a research note on Thursday, July 7th. Credit Suisse Group AG restated a hold rating on shares of Kennametal in a research note on Saturday, July 9th. Barrington Research boosted their price target on Kennametal from $28.00 to $31.00 and gave the stock an outperform rating in a research report on Wednesday, August 3rd. Finally, Seaport Global Securities lowered Kennametal from an accumulate rating to a neutral rating and set a $28.00 price target on the stock. in a research report on Thursday, August 18th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of C$25.00.
Kennametal (NYSE:KMT) traded up 0.43% during midday trading on Tuesday, hitting $28.27. The stock had a trading volume of 46,454 shares. The firm’s market capitalization is $2.25 billion. Kennametal has a 1-year low of $15.11 and a 1-year high of $29.87. The firm has a 50-day moving average price of $28.19 and a 200-day moving average price of $25.36.
Kennametal (NYSE:KMT) last released its earnings results on Tuesday, August 2nd. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $521.20 million for the quarter, compared to analysts’ expectations of $519.51 million. Kennametal had a positive return on equity of 7.51% and a negative net margin of 10.77%. The business’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. On average, equities research analysts anticipate that Kennametal will post $1.26 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC raised its position in Kennametal by 77.3% in the second quarter. LS Investment Advisors LLC now owns 4,878 shares of the company’s stock worth $108,000 after buying an additional 2,126 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Kennametal by 305.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,136 shares of the company’s stock worth $136,000 after buying an additional 4,624 shares during the last quarter. Bank of Montreal Can acquired a new position in Kennametal during the second quarter worth $150,000. Amalgamated Bank raised its position in Kennametal by 2.4% in the second quarter. Amalgamated Bank now owns 9,816 shares of the company’s stock worth $283,000 after buying an additional 228 shares during the last quarter. Finally, Cantab Capital Partners LLP acquired a new position in Kennametal during the second quarter worth $223,000. 97.68% of the stock is currently owned by institutional investors and hedge funds.
Kennametal Company Profile
Kennametal Inc (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.
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