The stock of Kennametal Inc. (NYSE:KMT) is a huge mover today! About 601,837 shares traded hands. Kennametal Inc. (NYSE:KMT) has risen 33.40% since March 2, 2016 and is uptrending. It has outperformed by 25.14% the S&P500.
The move comes after 6 months positive chart setup for the $2.33 billion company. It was reported on Oct, 5 by Barchart.com. We have $40.20 PT which if reached, will make NYSE:KMT worth $838.80 million more.
Analysts await Kennametal Inc. (NYSE:KMT) to report earnings on November, 1. They expect $0.15 earnings per share, up 7.14% or $0.01 from last year’s $0.14 per share. KMT’s profit will be $11.82 million for 49.27 P/E if the $0.15 EPS becomes a reality. After $0.44 actual earnings per share reported by Kennametal Inc. for the previous quarter, Wall Street now forecasts -65.91% negative EPS growth.
Kennametal Inc. (NYSE:KMT) Ratings Coverage
Out of 7 analysts covering Kennametal Inc. (NYSE:KMT), 1 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 14% are positive. Kennametal Inc. has been the topic of 16 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Longbow upgraded the stock to “Neutral” rating in Thursday, February 4 report. The rating was downgraded by Seaport Global to “Neutral” on Thursday, August 18. The firm has “Sell” rating by UBS given on Wednesday, October 28. The firm has “Neutral” rating given on Friday, March 18 by Longbow. The firm has “Outperform” rating given on Thursday, December 17 by Barrington Research. The firm has “Neutral” rating by Bank of America given on Tuesday, August 11. The stock of Kennametal Inc. (NYSE:KMT) has “Underperform” rating given on Wednesday, November 4 by Bank of America. The company was downgraded on Wednesday, May 4 by Stifel Nicolaus. The rating was downgraded by Bank of America to “Neutral” on Friday, October 2.
According to Zacks Investment Research, “Kennametal Inc. is a leading global supplier of tooling, engineered components and advanced materials consumed in production processes. The company improves customers’ competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands. Companies producing everything from airframes to coal, from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains.”
Insitutional Activity: The institutional sentiment decreased to 1.21 in 2016 Q2. Its down 0.20, from 1.41 in 2016Q1. The ratio turned negative, as 29 funds sold all Kennametal Inc. shares owned while 66 reduced positions. 28 funds bought stakes while 87 increased positions. They now own 77.21 million shares or 3.37% more from 74.69 million shares in 2016Q1.
J Goldman & Company Limited Partnership holds 0.23% of its portfolio in Kennametal Inc. (NYSE:KMT) for 196,350 shares. Tiaa Cref Ltd Liability reported 287,054 shares or 0% of all its holdings. Schwab Charles Inv Management Inc has 540,245 shares for 0.01% of their US portfolio. Winfield Associate Inc last reported 150 shares in the company. Moreover, Citadel Advisors Ltd Llc has 0.01% invested in Kennametal Inc. (NYSE:KMT) for 311,138 shares. Shufro Rose & Limited Com accumulated 361,923 shares or 0.88% of the stock. Price T Rowe Associate Inc Md holds 34,846 shares or 0% of its portfolio. Millennium Mngmt Ltd Com, a New York-based fund reported 536,968 shares. Canada Pension Plan Investment Board owns 323,200 shares or 0.03% of their US portfolio. California State Teachers Retirement holds 0.01% or 165,704 shares in its portfolio. Wells Fargo & Mn accumulated 51,853 shares or 0% of the stock. Gotham Asset Ltd Liability Company last reported 1.05 million shares in the company. Teacher Retirement Of Texas holds 0% of its portfolio in Kennametal Inc. (NYSE:KMT) for 11,074 shares. Amer Century accumulated 0% or 33,543 shares. The Australia-based Westpac Bk has invested 0% in Kennametal Inc. (NYSE:KMT).
Insider Transactions: Since June 10, 2016, the stock had 1 buy, and 0 insider sales for $12,460 net activity. Harvey William J. also bought $12,460 worth of Kennametal Inc. (NYSE:KMT) shares.
More recent Kennametal Inc. (NYSE:KMT) news were published by: Bizjournals.com which released: “About 600 layoffs, 400 separations at Kennametal” on August 02, 2016. Also Prnewswire.com published the news titled: “Sagar A. Patel, President Of Aircraft Turbine Systems Of Woodward, Inc., Joins …” on September 01, 2016. Prnewswire.com‘s news article titled: “Kennametal to host Investor Presentation at IMTS and attend 4th Annual Morgan …” with publication date: September 09, 2016 was also an interesting one.
KMT Company Profile
Kennametal Inc. (Kennametal), incorporated on June 25, 1943, is a supplier of tooling, engineered components and materials consumed in production processes. The Firm operates through two divisions: Industrial and Infrastructure. The Firm provides wear-resistant products, application engineering and services backed by material science serving clients across diverse sectors of industrial production, transportation, earthworks, energy, construction, process industries and aerospace. Kennametal solutions are built across technology platforms, including precision-engineered metalworking tools and components, surface technologies and earth cutting tools that are mission-critical to customer activities battling conditions associated with wear fatigue, corrosion and high temperatures.
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