Morgan Stanley started coverage on shares of Kennametal (NYSE:KMT) in a report issued on Friday, BenzingaRatingsTable reports. The brokerage issued an equal weight rating and a $33.00 target price on the industrial products company’s stock.
Other equities analysts have also recently issued research reports about the company. BMO Capital Markets increased their target price on Kennametal from $18.00 to $29.00 in a report on Wednesday, June 10th. KeyCorp increased their price objective on Kennametal from $30.00 to $38.00 and gave the company an overweight rating in a research note on Thursday, June 11th. Zacks Investment Research raised shares of Kennametal from a sell rating to a hold rating and set a $24.00 target price on the stock in a research note on Wednesday, May 27th. Barclays reaffirmed a buy rating and set a $27.00 target price on shares of Kennametal in a report on Sunday, March 22nd. Finally, Wells Fargo & Co raised their price target on shares of Kennametal from $30.00 to $35.00 and gave the stock an overweight rating in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $31.78.
NYSE:KMT opened at $27.21 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 2.52. The stock has a market capitalization of $2.26 billion, a PE ratio of 34.88, a P/E/G ratio of 5.99 and a beta of 2.38. Kennametal has a fifty-two week low of $14.45 and a fifty-two week high of $38.73. The company has a fifty day moving average of $27.15 and a two-hundred day moving average of $28.18.
In related news, VP Michelle R. Keating sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $24.24, for a total value of $218,160.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Judith L. Bacchus sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $27.92, for a total value of $279,200.00. Following the completion of the transaction, the vice president now owns 38,157 shares of the company’s stock, valued at $1,065,343.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,750 shares of company stock worth $730,280. Insiders own 1.48% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Profund Advisors LLC increased its position in shares of Kennametal by 4.9% during the 4th quarter. Profund Advisors LLC now owns 8,377 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 395 shares during the last quarter. Moody Aldrich Partners LLC boosted its stake in Kennametal by 0.4% during the first quarter. Moody Aldrich Partners LLC now owns 119,631 shares of the industrial products company’s stock worth $2,228,000 after buying an additional 445 shares during the period. Kovitz Investment Group Partners LLC increased its position in shares of Kennametal by 2.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 23,100 shares of the industrial products company’s stock valued at $852,000 after acquiring an additional 500 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Kennametal by 4.6% during the first quarter. State of Alaska Department of Revenue now owns 14,249 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 628 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Kennametal by 0.5% in the 1st quarter. Wells Fargo & Company MN now owns 130,464 shares of the industrial products company’s stock valued at $2,429,000 after acquiring an additional 712 shares during the period. 96.00% of the stock is currently owned by institutional investors and hedge funds.
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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