Kennametal (NYSE:KMT) Hits New 52-Week Low at $25.00

Kennametal Inc. (NYSE:KMT) reached a new 52-week low during mid-day 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 research firms recently issued reports on KMT. ValuEngine raised Kennametal from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co lowered their target price on Kennametal from $34.00 to $32.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Bank of America reduced their price target on Kennametal from $30.00 to $27.00 and set an “underperform” rating for the company in a research report on Tuesday, August 6th. UBS Group reduced their price target on Kennametal from $35.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday, August 21st. Finally, BMO Capital Markets reduced their price target on Kennametal from $37.00 to $30.50 and set a “market perform” rating for the company in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.44.

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 2.58. The business has a 50-day simple moving average of $30.30 and a two-hundred day simple moving average of $33.61. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 1.25 and a beta of 2.26.

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

In other news, Director Cindy L. Davis sold 4,644 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $34.15, for a total value of $158,592.60. Following the completion of the sale, the director now owns 11,529 shares of the company’s stock, valued at approximately $393,715.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.48% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Manchester Financial Inc. acquired a new stake in shares of Kennametal in the 2nd quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new stake in shares of Kennametal in the 2nd quarter valued at approximately $31,000. Tower Research Capital LLC TRC acquired a new stake in shares of Kennametal in the 2nd quarter valued at approximately $52,000. Quantamental Technologies LLC acquired a new stake in shares of Kennametal in the 2nd quarter valued at approximately $72,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Kennametal in the 2nd quarter valued at approximately $100,000. 97.99% of the stock is owned by institutional investors.

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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