Kennametal Inc. (NYSE:KMT) – Barrington Research lowered their Q1 2017 earnings per share (EPS) estimates for Kennametal in a research report issued on Monday. Barrington Research analyst R. Hokanson now expects that the firm will earn $0.11 per share for the quarter, down from their previous forecast of $0.15. Barrington Research currently has a “Outperform” rating and a $31.00 target price on the stock.

A number of other brokerages have also weighed in on KMT. Seaport Global Securities lowered shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Thursday, August 18th. Zacks Investment Research lowered shares of Kennametal from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Bank of America Corp. lowered shares of Kennametal from a “neutral” rating to an “underperform” rating in a report on Thursday, July 7th. Credit Suisse Group AG restated a “hold” rating and issued a $23.00 price target on shares of Kennametal in a report on Tuesday, August 2nd. Finally, Jefferies Group restated a “buy” rating and issued a $30.00 price target on shares of Kennametal in a report on Sunday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of C$24.44.

Shares of Kennametal (NYSE:KMT) opened at 27.745 on Tuesday. Kennametal has a 12-month low of $15.11 and a 12-month high of $29.45. The stock’s 50 day moving average is $27.88 and its 200-day moving average is $24.47. The stock’s market cap is $2.21 billion.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. Kennametal had a negative net margin of 10.77% and a positive return on equity of 7.51%. The firm had revenue of $521.20 million for the quarter, compared to analysts’ expectations of $519.51 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was down 18.3% on a year-over-year basis.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Kennametal by 13.4% in the second quarter. Vanguard Group Inc. now owns 6,420,796 shares of the company’s stock valued at $141,963,000 after buying an additional 758,339 shares in the last quarter. BlackRock Fund Advisors increased its stake in Kennametal by 49.2% in the second quarter. BlackRock Fund Advisors now owns 3,947,916 shares of the company’s stock valued at $87,288,000 after buying an additional 1,301,505 shares in the last quarter. State Street Corp increased its stake in Kennametal by 22.6% in the second quarter. State Street Corp now owns 2,536,276 shares of the company’s stock valued at $56,077,000 after buying an additional 466,723 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Kennametal by 6.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,382,074 shares of the company’s stock valued at $52,668,000 after buying an additional 138,375 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Kennametal by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,014,953 shares of the company’s stock valued at $44,548,000 after buying an additional 427,586 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.90%. The ex-dividend date was Wednesday, August 10th. Kennametal’s dividend payout ratio is presently -28.27%.

About Kennametal

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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