Kennametal Inc. (KMT) Expected to Post Quarterly Sales of $598.66 Million
Analysts expect Kennametal Inc. (NYSE:KMT) to announce sales of $598.66 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Kennametal’s earnings. The lowest sales estimate is $582.90 million and the highest is $613.33 million. Kennametal reported sales of $528.63 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.2%. The firm is scheduled to issue its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Kennametal will report full year sales of $598.66 million for the current fiscal year, with estimates ranging from $2.32 billion to $2.37 billion. For the next financial year, analysts forecast that the business will post sales of $2.47 billion per share, with estimates ranging from $2.44 billion to $2.52 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Kennametal.
Kennametal (NYSE:KMT) last released its earnings results on Thursday, February 1st. The industrial products company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.03). The business had revenue of $571.00 million for the quarter, compared to analysts’ expectations of $541.78 million. Kennametal had a net margin of 6.54% and a return on equity of 17.09%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share.
Kennametal (NYSE:KMT) opened at $41.03 on Monday. The company has a market capitalization of $3,346.96, a P/E ratio of 18.40, a PEG ratio of 1.92 and a beta of 2.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.52 and a current ratio of 2.77. Kennametal has a one year low of $32.23 and a one year high of $52.52.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, February 12th. Kennametal’s dividend payout ratio (DPR) is presently 45.45%.
In related news, Director Timothy R. Mclevish sold 20,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $48.00, for a total transaction of $960,000.00. Following the transaction, the director now directly owns 66,904 shares in the company, valued at $3,211,392. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in KMT. Victory Capital Management Inc. bought a new position in Kennametal during the fourth quarter worth $48,911,000. American Century Companies Inc. lifted its stake in Kennametal by 39.4% in the third quarter. American Century Companies Inc. now owns 2,382,709 shares of the industrial products company’s stock valued at $96,118,000 after buying an additional 673,230 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Kennametal by 39.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,719,336 shares of the industrial products company’s stock valued at $83,234,000 after buying an additional 487,255 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Kennametal by 23.3% in the third quarter. Janus Henderson Group PLC now owns 2,509,518 shares of the industrial products company’s stock valued at $101,234,000 after buying an additional 474,225 shares during the last quarter. Finally, Impala Asset Management LLC bought a new stake in Kennametal in the fourth quarter valued at $16,537,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.
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Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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