Kennametal Inc. (NYSE:KMT) – Stock analysts at Barrington Research upped their Q2 2017 earnings estimates for shares of Kennametal in a research report issued on Monday. Barrington Research analyst R. Hokanson now anticipates that the firm will earn $0.22 per share for the quarter, up from their previous forecast of $0.18. Barrington Research currently has a “Outperform” rating and a $31.00 target price on the stock.

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

A number of other equities research analysts have also recently issued reports on KMT. Credit Suisse Group AG restated a “hold” rating on shares of Kennametal in a report on Saturday, July 9th. Jefferies Group restated a “buy” rating and set a $30.00 price target on shares of Kennametal in a report on Sunday, July 17th. Seaport Global Securities cut shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Thursday, August 18th. Zacks Investment Research cut shares of Kennametal from a “hold” rating to a “sell” rating in a report on Monday, July 11th. Finally, Bank of America Corp. cut shares of Kennametal from a “neutral” rating to an “underperform” rating in a research note on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Kennametal currently has a consensus rating of “Hold” and a consensus target price of C$24.44.

Kennametal (NYSE:KMT) opened at 28.28 on Wednesday. The firm’s market capitalization is $2.25 billion. The stock’s 50 day moving average price is $27.96 and its 200 day moving average price is $24.50. Kennametal has a 12 month low of $15.11 and a 12 month high of $29.45.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Wednesday, August 10th. Kennametal’s payout ratio is -28.27%.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised 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 during the last quarter. BlackRock Fund Advisors raised its stake in shares of Kennametal by 49.2% in the second quarter. BlackRock Fund Advisors now owns 3,947,916 shares of the company’s stock worth $87,288,000 after buying an additional 1,301,505 shares in the last quarter. State Street Corp raised its stake in shares of Kennametal by 22.6% in the second quarter. State Street Corp now owns 2,536,276 shares of the company’s stock worth $56,077,000 after buying an additional 466,723 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 worth $52,668,000 after buying an additional 138,375 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kennametal by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,014,953 shares of the company’s stock worth $44,548,000 after buying an additional 427,586 shares in the last quarter. 97.92% of the stock is owned by institutional investors.

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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