Kennametal Inc. (NYSE:KMT) was down 6.9% on Friday . The company traded as low as $34.48 and last traded at $34.55. Approximately 1,330,019 shares changed hands during trading, an increase of 124% from the average daily volume of 593,286 shares. The stock had previously closed at $37.10.

A number of equities research analysts recently weighed in on KMT shares. Barclays dropped their price target on Kennametal from $41.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, January 7th. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research cut Kennametal from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $46.10.

The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.14 and a beta of 2.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.72 and a quick ratio of 1.31.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Monday, February 4th. The industrial products company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Kennametal had a return on equity of 19.73% and a net margin of 9.50%. The firm had revenue of $587.40 million during the quarter, compared to analysts’ expectations of $606.76 million. During the same period last year, the firm posted $0.52 EPS. The business’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Kennametal Inc. will post 3.13 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th were paid a $0.20 dividend. The ex-dividend date was Monday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 2.32%. Kennametal’s dividend payout ratio (DPR) is currently 30.19%.

In other news, VP Peter A. Dragich sold 35,346 shares of Kennametal stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $38.59, for a total value of $1,364,002.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michelle R. Keating sold 1,890 shares of Kennametal stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $37.51, for a total value of $70,893.90. The disclosure for this sale can be found here. Insiders sold a total of 39,501 shares of company stock valued at $1,520,807 over the last three months. Insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KMT. Oregon Public Employees Retirement Fund increased its stake in shares of Kennametal by 3,277.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,087,990 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,055,775 shares during the period. Burgundy Asset Management Ltd. bought a new position in Kennametal during the third quarter worth about $45,957,000. Norges Bank bought a new position in Kennametal during the fourth quarter worth about $31,958,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Kennametal by 25.5% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,662,331 shares of the industrial products company’s stock worth $115,971,000 after acquiring an additional 541,767 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Kennametal by 37.7% during the third quarter. Bank of New York Mellon Corp now owns 1,900,801 shares of the industrial products company’s stock worth $82,799,000 after acquiring an additional 520,579 shares in the last quarter. 98.59% of the stock is owned by institutional investors.

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About Kennametal (NYSE:KMT)

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.

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