A secret that hides Kennametal Inc.’s strength (NYSE:KMT)

Stocks of Kennametal Inc. (NYSE:KMT) traded higher last session on Wall Street, down -0.51% to $29.07.

According to the data, Kennametal Inc. (NYSE:KMT) has 10 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $35.00 and a low of $19.00, we find $26.00. Given the previous closing price of $29.22, this indicates a potential downside of -11.02 percent. KMT stock price is now 6.23% away from the 50-day moving average and 14.36% away from the 200-day moving average. The market capitalization of the company currently stands at $2.31B.

A total of 6 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $27.11 as their price target over the next twelve months.

With the price target reduced from $27 to $19, UBS Downgraded its rating from Neutral to Sell for Kennametal Inc. (NYSE: KMT). On April 06, 2022, Loop Capital Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $41 to quote $29, while ‘JP Morgan’ rates the stock as ‘Underweight’.

In other news, Witt John Wayne, Vice President sold 730 shares of the company’s stock on Feb 17. The stock was sold for $21,170 at an average price of $29.00. Upon completion of the transaction, the Vice President now directly owns 800 shares in the company, valued at $23256.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 08, Vice President Witt John Wayne sold 700 shares of the business’s stock. A total of $17,850 was realized by selling the stock at an average price of $25.50. This leaves the insider owning 1,530 shares of the company worth $44477.1. Insiders disposed of 39,736 shares of company stock worth roughly $1.16 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in KMT stock. A new stake in Kennametal Inc. shares was purchased by AMALGAMATED FINANCIAL CORP. during the first quarter worth $1,540,000. MARSHALL WACE, LLP invested $1,252,000 in shares of KMT during the first quarter. In the first quarter, CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in Kennametal Inc. valued at approximately $655,000. PACER ADVISORS, INC. acquired a new stake in KMT for approximately $581,000. LEGATO CAPITAL MANAGEMENT LLC purchased a new stake in KMT valued at around $477,000 in the second quarter.

Tuesday’s opening bell rang with an opening price of $29.20 for Kennametal Inc. (NYSE: KMT). During the past 12 months, Kennametal Inc. has had a low of $20.21 and a high of $31.22. As of last week, the company has a debt-to-equity ratio of 0.54, a current ratio of 2.10, and a quick ratio of 0.90. The fifty day moving average price for KMT is $27.36 and a two-hundred day moving average price translates $25.42 for the stock.

The latest earnings results from Kennametal Inc. (NYSE: KMT) was released for Dec, 2022. According to the Tools & Accessories Company, earnings per share came in at $0.27, beating analysts’ expectations of $0.22 by 0.05. This compares to $0.39 EPS in the same period last year. The net profit margin was 6.20% and return on equity was 10.10% for KMT. The company reported revenue of $497.12 million for the quarter, compared to $486.67 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.15 percent. For the current quarter, analysts expect KMT to generate $527.8M in revenue.

Moreover, the firm recently paid out its quarterly dividend on 02/28/2023. Investors who held shares on 02/14/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 2.75% percent yield. There was an ex-dividend date of 02/13/2023 for this dividend. In terms of dividend payout ratio, KMT is presently at 51.70%.

Kennametal Inc.(KMT) Company Profile

Kennametal Inc. engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure. It offers standard and custom products, including turning, milling, hole making, tooling systems, and services, as well as specialized wear components and metallurgical powders for manufacturers engaged in various industries, such as the manufacturers of transportation vehicles and components, machine tools, and light and heavy machinery; airframe and aerospace components; and energy-related components for the oil and gas industry, as well as power generation. The company also provides specified product design, selection, application, and support services; and standard and custom metal cutting solutions to aerospace, general engineering, energy, and transportation customers. In addition, it produces compacts, nozzles, frac seats, and custom components used in oil and gas, and petrochemical industries; rod blanks and abrasive water jet nozzles for general industries; earth cutting tools and systems used in underground mining, trenching and foundation drilling, and road milling; tungsten carbide powders for the oil and gas, aerospace, and process industries; and ceramics used by the packaging industry for metallization of films and papers. It provides its products under the Kennametal, WIDIA, WIDIA Hanita, and WIDIA GTD brands through its direct sales force; a network of independent and national distributors; integrated supplier channels; and through the Internet. The company was founded in 1938 and is based in Pittsburgh, Pennsylvania.