Kennametal Inc. (NYSE:KMT) was up 3.6% on Tuesday . The stock traded as high as $24.87 and last traded at $24.82, with a volume of 287,512 shares changing hands. The stock had previously closed at $23.96.

Several equities research analysts recently weighed in on KMT shares. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, April 6th. Jefferies Group reiterated a “buy” rating and issued a $30.00 price objective on shares of Kennametal in a report on Sunday, July 17th. Credit Suisse Group AG reiterated a “hold” rating on shares of Kennametal in a report on Saturday, July 9th. Stifel Nicolaus cut Kennametal from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. They noted that the move was a valuation call. Finally, Bank of America Corp. reiterated a “hold” rating on shares of Kennametal in a report on Tuesday, May 3rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of C$23.13.

The stock’s market capitalization is $2.00 billion. The stock has a 50-day moving average of $23.33 and a 200 day moving average of $21.80.

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

Other hedge funds recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased 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. Nationwide Fund Advisors increased its stake in Kennametal by 0.4% in the fourth quarter. Nationwide Fund Advisors now owns 127,139 shares of the company’s stock valued at $2,441,000 after buying an additional 491 shares during the period. California State Teachers Retirement System increased its stake in Kennametal by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 151,582 shares of the company’s stock valued at $2,910,000 after buying an additional 2,375 shares during the period. California Public Employees Retirement System increased its stake in Kennametal by 3.0% in the fourth quarter. California Public Employees Retirement System now owns 231,400 shares of the company’s stock valued at $4,443,000 after buying an additional 6,700 shares during the period. Finally, Gabelli Funds LLC increased its stake in Kennametal by 183.2% in the fourth quarter. Gabelli Funds LLC now owns 320,000 shares of the company’s stock valued at $6,144,000 after buying an additional 207,000 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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