Kennametal Inc. (NYSE:KMT) Announces $0.20 Quarterly Dividend

Kennametal Inc. (NYSE:KMT) declared a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Stockholders of record on Tuesday, August 13th will be given a dividend of 0.20 per share by the industrial products company on Tuesday, August 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, August 13th.

Kennametal has a dividend payout ratio of 51.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kennametal to earn $1.57 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 51.0%.

Kennametal Trading Down 0.2 %

KMT traded down $0.05 on Tuesday, reaching $23.95. 1,157,682 shares of the company’s stock were exchanged, compared to its average volume of 653,103. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.37 and a beta of 1.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 2.42. Kennametal has a twelve month low of $22.08 and a twelve month high of $28.06. The company’s 50 day moving average is $24.29 and its 200-day moving average is $24.54.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The business had revenue of $515.80 million during the quarter, compared to analyst estimates of $518.50 million. During the same period in the previous year, the company earned $0.39 EPS. Kennametal’s revenue was down 3.8% on a year-over-year basis. Equities analysts predict that Kennametal will post 1.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Chowbey bought 5,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was acquired at an average cost of $24.28 per share, with a total value of $121,400.00. Following the acquisition, the chief executive officer now owns 49,270 shares in the company, valued at approximately $1,196,275.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KMT. Loop Capital decreased their target price on Kennametal from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, June 21st. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Barclays decreased their target price on shares of Kennametal from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $23.67.

Kennametal Company Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.