The stock of Kennametal Inc. (NYSE:KMT) is a huge mover today! The stock increased 3.87% or $1.32 on November 23, hitting $35.47. Kennametal Inc. (NYSE:KMT) has risen 47.24% since April 22, 2016 and is uptrending. It has outperformed by 41.83% the S&P500.
The move comes after 7 months positive chart setup for the $2.94B company. It was reported on Nov, 24 by Barchart.com. We have $36.89 PT which if reached, will make NYSE:KMT worth $117.60 million more.
Analysts await Kennametal Inc. (NYSE:KMT) to report earnings on February, 1. They expect $0.22 earnings per share, up 57.14% or $0.08 from last year’s $0.14 per share. KMT’s profit will be $18.24 million for 40.31 P/E if the $0.22 EPS becomes a reality. After $0.11 actual earnings per share reported by Kennametal Inc. for the previous quarter, Wall Street now forecasts 100.00% EPS growth.
Kennametal Inc. (NYSE:KMT) Ratings Coverage
Out of 8 analysts covering Kennametal Inc. (NYSE:KMT), 2 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 25% are positive. Kennametal Inc. has been the topic of 17 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was downgraded by Longbow to “Neutral” on Friday, March 18. The rating was downgraded by Bank of America on Tuesday, August 11 to “Neutral”. UBS downgraded the stock to “Sell” rating in Wednesday, October 28 report. Bank of America downgraded the stock to “Underperform” rating in Wednesday, November 4 report. The rating was upgraded by Longbow to “Neutral” on Thursday, February 4. Barrington Research maintained it with “Outperform” rating and $25 target price in Thursday, December 17 report. The firm has “Neutral” rating by Seaport Global given on Thursday, August 18. On Friday, October 2 the stock rating was downgraded by Bank of America to “Neutral”. The firm has “Hold” rating by Stifel Nicolaus given on Wednesday, May 4. Goldman Sachs upgraded Kennametal Inc. (NYSE:KMT) on Monday, October 31 to “Buy” rating.
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 0.77 in Q2 2016. Its down 0.44, from 1.21 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.
Proshare Lc last reported 0% of its portfolio in the stock. Diamond Hill Capital Mngmt last reported 147,551 shares in the company. Los Angeles Cap Management Equity Rech holds 317,172 shares or 0.06% of its portfolio. Retirement Systems Of Alabama has 102,796 shares for 0.01% of their US portfolio. Huntington Bancorporation holds 7,480 shares or 0.01% of its portfolio. Fuller Thaler Asset Management Inc has invested 1.04% of its portfolio in Kennametal Inc. (NYSE:KMT). Artisan Prtnrs L P has 0.16% invested in the company for 3.41 million shares. Millennium Management Lc has 0.03% invested in the company for 536,968 shares. Cantab Prtn Llp, a United Kingdom-based fund reported 10,091 shares. Prudential Inc accumulated 0.01% or 367,199 shares. Amalgamated Bank & Trust accumulated 0.02% or 9,816 shares. Metropolitan Life Insurance Com has 0.02% invested in the company for 129,636 shares. Citigroup Incorporated last reported 3,316 shares in the company. Pnc Fincl Svcs Group accumulated 0% or 28,067 shares. Deutsche State Bank Ag reported 140,651 shares or 0% of all its holdings.
Insider Transactions: Since June 10, 2016, the stock had 1 insider buy, and 2 sales for $258,888 net activity. $12,460 worth of Kennametal Inc. (NYSE:KMT) was bought by Harvey William J. on Friday, June 10. Shares for $135,674 were sold by Bacchus Judith L on Friday, November 11.
More recent Kennametal Inc. (NYSE:KMT) news were published by: Prnewswire.com which released: “Kennametal Management to Host Analyst Day on November 3, 2016” on October 26, 2016. Also Forbes.com published the news titled: “Ex-Dividend Reminder: Parker Hannifin, Kennametal and Boeing” on November 04, 2016. Prnewswire.com‘s news article titled: “Kennametal Announces Fiscal 2017 First Quarter Results” with publication date: October 26, 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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