Kennametal (NYSE:KMT) had its target price trimmed by Bank of America from $40.00 to $35.00 in a research note published on Tuesday morning. The firm currently has an underperform rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on KMT. Zacks Investment Research upgraded Kennametal from a sell rating to a hold rating in a report on Thursday, August 9th. ValuEngine cut Kennametal from a hold rating to a sell rating in a report on Friday, October 12th. BMO Capital Markets increased their target price on Kennametal from $42.00 to $46.00 and gave the company a market perform rating in a report on Wednesday, August 8th. Barclays restated a hold rating and set a $44.00 target price on shares of Kennametal in a report on Wednesday, August 8th. Finally, Goldman Sachs Group started coverage on Kennametal in a report on Tuesday, October 2nd. They set a buy rating and a $53.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $48.50.

Shares of KMT traded down $1.64 during midday trading on Tuesday, reaching $39.46. The stock had a trading volume of 713,903 shares, compared to its average volume of 1,119,043. Kennametal has a 12-month low of $32.91 and a 12-month high of $52.52. The company has a current ratio of 2.55, a quick ratio of 1.15 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $3.36 billion, a P/E ratio of 14.89, a PEG ratio of 2.61 and a beta of 2.12.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Kennametal had a return on equity of 19.03% and a net margin of 9.03%. The firm had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $590.22 million. During the same period in the prior year, the business earned $0.48 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that Kennametal will post 3.13 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, November 9th. Kennametal’s dividend payout ratio is presently 30.19%.

In other Kennametal news, VP Gaalen Jan Kees Van sold 13,606 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $41.09, for a total transaction of $559,070.54. Following the completion of the transaction, the vice president now owns 68,827 shares of the company’s stock, valued at approximately $2,828,101.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michelle R. Keating sold 988 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $42.20, for a total value of $41,693.60. Following the transaction, the vice president now directly owns 14,676 shares of the company’s stock, valued at approximately $619,327.20. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its position in Kennametal by 105.3% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,510 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 1,800 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Kennametal by 169.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,316 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 2,713 shares in the last quarter. Gillespie Robinson & Grimm Inc. bought a new position in shares of Kennametal in the 3rd quarter worth approximately $242,000. Caption Management LLC bought a new position in shares of Kennametal in the 2nd quarter worth approximately $215,000. Finally, Gryphon Financial Partners LLC bought a new position in shares of Kennametal in the 3rd quarter worth approximately $343,000.

About Kennametal

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

Further Reading: What is the Dow Jones Industrial Average (DJIA)?

Analyst Recommendations for Kennametal (NYSE:KMT)

Receive News & Ratings for Kennametal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennametal and related companies with MarketBeat.com's FREE daily email newsletter.