Kennametal (NYSE:KMT) Hits New 1-Year Low at $25.00

Kennametal Inc. (NYSE:KMT)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $25.00 and last traded at $29.57, with a volume of 132484 shares. The stock had previously closed at $30.71.

A number of brokerages recently commented on KMT. TheStreet cut Kennametal from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut Kennametal from a “hold” rating to a “sell” rating and set a $30.00 target price on the stock. in a report on Thursday, October 10th. Longbow Research cut Kennametal from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Goldman Sachs Group cut Kennametal from a “buy” rating to a “sell” rating and decreased their target price for the stock from $43.00 to $30.00 in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $32.75.

The stock has a fifty day moving average of $30.35 and a 200 day moving average of $33.47. The company has a market capitalization of $2.54 billion, a P/E ratio of 10.23, a PEG ratio of 1.29 and a beta of 2.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 2.58.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). The business had revenue of $603.95 million for the quarter, compared to the consensus estimate of $643.95 million. Kennametal had a net margin of 10.19% and a return on equity of 18.97%. Kennametal’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. Research analysts anticipate that Kennametal Inc. will post 2.87 EPS for the current fiscal year.

In other Kennametal news, Director Cindy L. Davis sold 4,644 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $34.15, for a total transaction of $158,592.60. Following the sale, the director now directly owns 11,529 shares of the company’s stock, valued at $393,715.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.48% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of KMT. Manchester Financial Inc. bought a new stake in Kennametal during the second quarter valued at about $30,000. Advisory Services Network LLC bought a new stake in Kennametal during the second quarter valued at about $31,000. Tower Research Capital LLC TRC bought a new stake in Kennametal during the second quarter valued at about $52,000. Quantamental Technologies LLC bought a new stake in Kennametal during the second quarter valued at about $72,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Kennametal in the second quarter worth about $100,000. 97.99% of the stock is currently owned by institutional investors and hedge funds.

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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