Kennametal Inc. (NYSE:KMT) traded down 2.5% on Wednesday . The company traded as low as $20.55 and last traded at $21.26, with a volume of 1,555,507 shares trading hands. The stock had previously closed at $21.81.

A number of equities research analysts recently weighed in on the stock. Bank of America Corp. cut shares of Kennametal from a “neutral” rating to an “underperform” rating in a research report on Thursday. Zacks Investment Research cut shares of Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Barrington Research boosted their price target on shares of Kennametal from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, May 9th. Stifel Nicolaus cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. They noted that the move was a valuation call. Finally, Longbow Research cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $16.00 target price for the company. in a report on Friday, March 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Kennametal presently has an average rating of “Hold” and a consensus price target of C$22.25.

The stock’s market cap is $1.73 billion. The stock has a 50-day moving average price of $23.63 and a 200 day moving average price of $21.41.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.14. The firm had revenue of $497 million for the quarter, compared to analyst estimates of $487.25 million. Kennametal’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. Equities research analysts predict that Kennametal Inc. will post $1.09 EPS for the current year.

A number of hedge funds and institutional investors recently made changes to their positions in the company. Mutual of America Capital Management LLC raised its position in shares of Kennametal by 2.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 54,180 shares of the company’s stock valued at $1,040,000 after buying an additional 1,257 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Kennametal by 6,103.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 80,702 shares of the company’s stock valued at $1,549,000 after buying an additional 79,401 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Kennametal by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 92,586 shares of the company’s stock valued at $1,778,000 after buying an additional 270 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Kennametal by 1.6% in the fourth quarter. Retirement Systems of Alabama now owns 102,292 shares of the company’s stock valued at $1,964,000 after buying an additional 1,571 shares in the last quarter. Finally, South Dakota Investment Council raised its position in shares of Kennametal by 17.3% in the fourth quarter. South Dakota Investment Council now owns 103,680 shares of the company’s stock valued at $1,991,000 after buying an additional 15,280 shares in the last quarter.

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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