Kennametal Inc. (KMT) To Go Ex-Dividend on November 12th

Kennametal Inc. (NYSE:KMT) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Shareholders of record on Tuesday, November 12th will be given a dividend of 0.20 per share by the industrial products company on Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Tuesday, November 12th.

Kennametal has a dividend payout ratio of 55.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kennametal to earn $1.67 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 47.9%.

Kennametal Stock Performance

Shares of Kennametal stock traded up $0.13 on Friday, hitting $29.48. 1,416,580 shares of the company’s stock were exchanged, compared to its average volume of 1,013,127. Kennametal has a 1 year low of $22.43 and a 1 year high of $32.18. The company has a 50-day simple moving average of $25.68 and a 200-day simple moving average of $25.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 2.52. The stock has a market capitalization of $2.29 billion, a PE ratio of 23.03, a PEG ratio of 3.48 and a beta of 1.64.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The firm had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. During the same period in the previous year, the firm earned $0.41 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Kennametal will post 1.43 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KMT shares. Loop Capital raised their target price on shares of Kennametal from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research report on Friday, October 18th. Barclays lifted their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, StockNews.com downgraded Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.60.

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.