Kennametal Inc. (NYSE:KMT)’s share price traded up 5.9% during trading on Friday . The company traded as high as $21.89 and last traded at $21.88, with a volume of 417,985 shares traded. The stock had previously closed at $20.67.

Several research firms recently issued reports on KMT. Stifel Nicolaus lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. They noted that the move was a valuation call. Barrington Research lifted their price objective on Kennametal from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, May 9th. Bank of America Corp. reissued a “hold” rating on shares of Kennametal in a research note on Tuesday, May 3rd. Longbow Research lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $16.00 price objective for the company. in a research note on Friday, March 18th. Finally, Zacks Investment Research lowered Kennametal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of C$22.25.

The stock’s market cap is $1.74 billion. The firm’s 50 day moving average price is $23.60 and its 200-day moving average price is $21.43.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.23 by $0.14. The company earned $497 million during the quarter, compared to analysts’ expectations of $487.25 million. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Analysts forecast that Kennametal Inc. will post $1.09 EPS for the current fiscal year.

Other large investors recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its stake in 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 during the period. Cornerstone Capital Management Holdings LLC. raised its stake in 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 during the period. State Board of Administration of Florida Retirement System raised its stake in 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 during the period. Retirement Systems of Alabama raised its stake in 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 during the period. Finally, South Dakota Investment Council raised its stake in 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 during the period.

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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