Kennametal Inc. (NYSE:KMT) traded up 1.5% during trading on Friday . The company traded as high as $23.69 and last traded at $23.31, with a volume of 484,819 shares traded. The stock had previously closed at $22.96.

A number of equities research analysts have commented on the stock. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Kennametal in a research report on Saturday, July 9th. Stifel Nicolaus downgraded 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. Bank of America Corp. reaffirmed a “hold” rating on shares of Kennametal in a research report on Tuesday, May 3rd. Zacks Investment Research downgraded shares of Kennametal from a “hold” rating to a “sell” rating in a research report on Monday, July 11th. Finally, Barrington Research lifted their target price on shares of Kennametal from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, May 9th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Kennametal has an average rating of “Hold” and a consensus target price of C$22.25.

The firm’s 50-day moving average price is $23.42 and its 200-day moving average price is $21.55. The stock’s market cap is $1.88 billion.

Kennametal (NYSE:KMT) last posted its earnings results on Tuesday, May 3rd. The company reported $0.37 EPS 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 analysts’ expectations of $487.25 million. The company’s revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. On average, equities analysts expect that Kennametal Inc. will post $1.09 earnings per share for the current year.

Other hedge funds and institutional investors recently bought and sold shares of the company. Mutual of America Capital Management LLC boosted its position 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 worth $1,040,000 after buying an additional 1,257 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position 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 worth $1,549,000 after buying an additional 79,401 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position 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 worth $1,778,000 after buying an additional 270 shares in the last quarter. Retirement Systems of Alabama boosted its position in Kennametal by 1.6% in the fourth quarter. Retirement Systems of Alabama now owns 102,292 shares of the company’s stock worth $1,964,000 after buying an additional 1,571 shares in the last quarter. Finally, South Dakota Investment Council boosted its position in Kennametal by 17.3% in the fourth quarter. South Dakota Investment Council now owns 103,680 shares of the company’s stock worth $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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