Kennametal Inc. Expected to Post FY2019 Earnings of $3.18 Per Share (NYSE:KMT)

Kennametal Inc. (NYSE:KMT) – Equities research analysts at KeyCorp reduced their FY2019 EPS estimates for Kennametal in a research note issued to investors on Wednesday, November 7th, according to Zacks Investment Research. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings of $3.18 per share for the year, down from their prior estimate of $3.22. KeyCorp also issued estimates for Kennametal’s FY2020 earnings at $3.56 EPS.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Kennametal had a net margin of 9.03% and a return on equity of 19.03%. The company had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $590.22 million. During the same period last year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year.

KMT has been the topic of several other reports. Stifel Nicolaus reissued a “hold” rating and issued a $47.00 target price on shares of Kennametal in a research report on Thursday, August 9th. Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Friday, October 12th. ValuEngine raised shares of Kennametal from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Bank of America decreased their target price on shares of Kennametal from $40.00 to $35.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 6th. Finally, Longbow Research raised shares of Kennametal from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, September 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Kennametal has a consensus rating of “Hold” and a consensus price target of $48.58.

Shares of KMT traded up $0.71 during mid-day trading on Friday, hitting $42.53. The company had a trading volume of 846,377 shares, compared to its average volume of 954,258. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.55. Kennametal has a 1-year low of $32.91 and a 1-year high of $52.52. The stock has a market capitalization of $3.43 billion, a PE ratio of 16.05, a P/E/G ratio of 2.68 and a beta of 2.16.

Several institutional investors and hedge funds have recently bought and sold shares of KMT. Principal Financial Group Inc. raised its stake in shares of Kennametal by 4.1% during the first quarter. Principal Financial Group Inc. now owns 364,841 shares of the industrial products company’s stock valued at $14,652,000 after purchasing an additional 14,463 shares during the period. Brown Advisory Inc. raised its stake in shares of Kennametal by 66.2% during the first quarter. Brown Advisory Inc. now owns 11,151 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 4,443 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Kennametal by 25.5% in the second quarter. Xact Kapitalforvaltning AB now owns 14,274 shares of the industrial products company’s stock worth $512,000 after buying an additional 2,900 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Kennametal by 74.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 15,719 shares of the industrial products company’s stock worth $564,000 after buying an additional 6,700 shares during the last quarter. Finally, Skylands Capital LLC increased its stake in shares of Kennametal by 8.3% in the second quarter. Skylands Capital LLC now owns 46,250 shares of the industrial products company’s stock worth $1,660,000 after buying an additional 3,550 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th were issued a $0.20 dividend. The ex-dividend date was Friday, November 9th. This represents a $0.80 annualized dividend and a yield of 1.88%. Kennametal’s payout ratio is 30.19%.

Kennametal Company Profile

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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Earnings History and Estimates for Kennametal (NYSE:KMT)

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