Bank of America Gives Kennametal (NYSE:KMT) a Lower Rating. Drops its Neutral Rating

August 9, 2018 - By Palma Niemeyer

Kennametal Inc. (NYSE:KMT) Logo

Investors sentiment decreased to 1.01 in 2018 Q1. Its down 0.13, from 1.14 in 2017Q4. It fall, as 26 investors sold Kennametal Inc. shares while 84 reduced holdings. 39 funds opened positions while 72 raised stakes. 80.09 million shares or 3.27% more from 77.55 million shares in 2017Q4 were reported.

Jacobs Levy Equity Mngmt Inc reported 72,310 shares. Advsr Asset holds 1,603 shares or 0% of its portfolio. Macquarie Grp Incorporated Ltd invested in 0% or 50,171 shares. Jennison Assocs Lc reported 30,793 shares or 0% of all its holdings. Regions Fin Corporation reported 3,000 shares stake. Kennedy Cap Mngmt Incorporated accumulated 0.6% or 772,546 shares. Fund Management Sa accumulated 113,700 shares or 0.03% of the stock. The Ontario – Canada-based Canada Pension Plan Investment Board has invested 0.01% in Kennametal Inc. (NYSE:KMT). Victory Mgmt stated it has 2.12M shares or 0.19% of all its holdings. Credit Suisse Ag holds 168,674 shares or 0.01% of its portfolio. Paloma Prtnrs Mngmt owns 8,194 shares or 0.01% of their US portfolio. Bnp Paribas Arbitrage holds 0% in Kennametal Inc. (NYSE:KMT) or 23,326 shares. First Trust Advsrs Ltd Partnership has 12,737 shares. Moreover, Walleye Trading Ltd Liability has 0.01% invested in Kennametal Inc. (NYSE:KMT) for 40,064 shares. Columbus Circle Investors has 0.54% invested in Kennametal Inc. (NYSE:KMT) for 663,922 shares.

Since June 11, 2018, it had 0 buys, and 1 insider sale for $271,090 activity.

Kennametal (NYSE:KMT) Receives a Downgrade

Shares of Kennametal (NYSE:KMT) were lowered to a Underperform by research professionals at Bank of America. KMT’s rating of a Neutral has been discontinued.

Kennametal Inc. (NYSE:KMT) Ratings Coverage

Among 7 analysts covering Kennametal Inc (NYSE:KMT), 1 have Buy rating, 1 Sell and 5 Hold. Therefore 14% are positive. Kennametal Inc has $5300 highest and $45 lowest target. $48’s average target is 19.23% above currents $40.26 stock price. Kennametal Inc had 9 analyst reports since February 15, 2018 according to SRatingsIntel. On Wednesday, August 8 the stock rating was downgraded by Bank of America to “Underperform”. The firm has “Hold” rating given on Wednesday, June 20 by Wells Fargo. The company was maintained on Tuesday, April 17 by BMO Capital Markets. The stock of Kennametal Inc. (NYSE:KMT) earned “Hold” rating by Stifel Nicolaus on Friday, May 4. The rating was maintained by BMO Capital Markets on Wednesday, August 8 with “Market Perform”. The stock has “Buy” rating by Wells Fargo on Thursday, April 19. The firm earned “Neutral” rating on Tuesday, April 10 by JP Morgan.

The stock decreased 1.88% or $0.77 during the last trading session, reaching $40.26. About 1.11M shares traded or 19.19% up from the average. Kennametal Inc. (NYSE:KMT) has declined 0.13% since August 9, 2017 and is downtrending. It has underperformed by 12.70% the S&P500.

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 has market cap of $3.29 billion. It operates through three divisions: Industrial, Widia, and Infrastructure. It has a 16.64 P/E ratio. The companyÂ’s product offering includes a selection of standard and customized technologies for metalworking applications, such as turning, milling, hole making, tooling systems, and services for manufacturers of transportation vehicles and components, machine tools, and light and heavy machinery; airframe and aerospace components; and energy-related components for the gas and oil industry, as well as power generation.

More recent Kennametal Inc. (NYSE:KMT) news were published by: Seekingalpha.com which released: “Kennametal Inc. 2018 Q4 – Results – Earnings Call Slides” on August 07, 2018. Also Benzinga.com published the news titled: “Earnings Scheduled For August 6, 2018” on August 06, 2018. Seekingalpha.com‘s news article titled: “Kennametal (KMT) Q4 2018 Results – Earnings Call Transcript” with publication date: August 07, 2018 was also an interesting one.

Kennametal Inc. (NYSE:KMT) Institutional Positions Chart

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