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Last $37.45 USD
Change Today -0.40 / -1.06%
Volume 459.5K
KMT On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

kennametal inc (KMT) Snapshot

Open
$37.76
Previous Close
$37.85
Day High
$38.04
Day Low
$37.45
52 Week High
06/10/14 - $48.60
52 Week Low
01/29/15 - $27.63
Market Cap
3.0B
Average Volume 10 Days
697.4K
EPS TTM
$2.27
Shares Outstanding
79.3M
EX-Date
05/8/15
P/E TM
16.5x
Dividend
$0.72
Dividend Yield
1.92%
Current Stock Chart for KENNAMETAL INC (KMT)

kennametal inc (KMT) Related Businessweek News

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kennametal inc (KMT) Details

Kennametal Inc. manufactures and supplies tooling, engineered components, and advanced materials consumed in production processes worldwide. The company operates in two segments, Industrial and Infrastructure. It offers standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, and materials, including cemented tungsten carbide products, super alloys, coatings, and investment castings. It also manufactures and markets a line of tool holders, tool-holding systems, and rotary-cutting tools by machining and fabricating steel bars and other metal alloys; and tungsten metallurgical powders, heavy alloys, and carbide products. In addition, the company produces compacts and metallurgical powders; products made from tungsten carbide or other hard materials that are used for custom-engineered and applications, including mining and highway construction; and engineered components and surface technology solutions with proprietary metal cladding capabilities, as well as process technology and materials that focus on component deburring, polishing, and effecting controlled radii. The Industrial segment serves customers primarily in the aerospace, defense, transportation, and general engineering market sectors, as well as the machine tool industry; and offers its products and services for use in the manufacture of engines, airframes, automobiles, trucks, ships, and various types of industrial equipment. The Infrastructure segment serves customers in energy and earthworks sectors who support primary industries, such as oil and gas; power generation; food and beverage; chemicals; underground, and surface and hard-rock mining, highway construction, and road maintenance. The company sells its products through direct sales force; network of independent distributors and sales agents; and Internet. Kennametal Inc. was founded in 1938 and is headquartered in Latrobe, Pennsylvania.

13,521 Employees
Last Reported Date: 08/13/14
Founded in 1938

kennametal inc (KMT) Top Compensated Officers

Chief Information Officer and Vice President
Total Annual Compensation: $427.0K
Chief Marketing Officer and Vice President
Total Annual Compensation: $396.1K
Vice President of Special Projects
Total Annual Compensation: $444.0K
Vice President of Integrated Supply Chain & L...
Total Annual Compensation: $318.7K
Compensation as of Fiscal Year 2014.

kennametal inc (KMT) Key Developments

Kennametal Inc. to Reduce its Manufacturing Footprint by 20% to 25%

Through a series of closures and divestments, Kennametal Inc. will reduce its manufacturing footprint by 20% to 25% in the next several years. Speaking on a conference call with industry analysts, the company said that it has identified the potential to divest $150 million to $400 million in annual sales.

Kennametal Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2015; Reaffirms Earnings Guidance for Fiscal 2015

Kennametal Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2015. The company reported results for the fiscal third quarter 2015, with loss per diluted share (LPS) of $0.58, compared with the prior year quarter earnings per diluted share (EPS) of $0.64. Adjusted EPS were $0.46 in the current quarter compared with $0.75 in the prior year quarter. The company generated $220 million in cash flow from operating activities for the nine months ended March 31, 2015, compared with $153 million in the prior year period. The increase is due to improved working capital management. Net capital expenditures were $76 million and $85 million for the same periods. The company realized free operating cash flow of $143 million compared with $68 million for the same period last year. Sales were $639 million, compared with $755 million in the same quarter last year. Sales decreased by 15%, reflecting a 9% organic decline and a 6% unfavorable currency exchange impact. Operating loss was $120 million, compared with operating income of $77 million in the same quarter last year. Adjusted operating income was $56 million, compared with the prior year quarter of $90 million. The decrease in adjusted operating results in the current period was primarily driven by organic sales decline, unfavorable mix in Infrastructure and unfavorable currency exchange, offset partially by restructuring benefits. Loss from continuing operations before income taxes was $127.774 million against income from continuing operations before income taxes of $68.508 million a year ago. Net loss attributable to company was $46.229 million against net income of $50.865 million a year ago. Adjusted net income was $36.738 million against $60.084 million a year ago. Sales were $2,010 million, compared with $2,065 million in the same period last year. Sales decreased by 3%, driven by 4% organic decline and 3% unfavorable currency exchange, partially offset by 4% net from acquisition and divestiture activity. Operating loss was $393 million, compared with operating income of $185 million in the same period last year. Adjusted operating income was $186 million in the current period, compared with adjusted operating income of $211 million in the prior year. Adjusted operating income decreased primarily due to organic sales decline and unfavorable mix, offset partially by restructuring benefits and a non-recurring inventory charge of approximately $6 million in the prior period. LPS was $4.98 in the current year period, compared with EPS of $1.42 the prior year period. Adjusted EPS were $1.55 in the current year period and $1.74 in the prior year period. Loss from continuing operations before income taxes was $417.104 million against income from continuing operations before income taxes of $160.469 million a year ago. Net loss attributable to company was $395.043 million against net income of $112.911 million a year ago. Adjusted net income was $123.139 million against $138.815 million a year ago. The company refined its outlook to reflect end market conditions and cost reduction assumptions for the remainder of fiscal 2015. The company expects fiscal 2015 total sales to decline in the range of 7% to 8% and organic sales to decline in the range of 5% to 6%. Previously, total sales decline was projected to be in the range of 6% to 7%, with organic sales decline of 4% to 5%. With one quarter remaining in fiscal 2015, the company is tightening its EPS guidance to range from $1.95 to $2.05, compared with previous expectations of $1.90 to $2.10. The company expects to generate cash flow from operations between $295 million and $320 million for fiscal 2015, compared with its previous outlook of $270 million to $295 million. Based on anticipated capital expenditures of approximately $115 million to $120 million, the company expects to generate between $180 million and $200 million of free operating cash flow for the fiscal year.

Kennametal Inc. Declares Quarterly Cash Dividend, Payable on May 27, 2015

Kennametal Inc. announced that its board of directors declared a quarterly cash dividend of $0.18 per share. The dividend will be payable on May 27, 2015 to shareholders of record as of the close of business on May 12, 2015.

 

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Price/Book 2.2x
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TEV/Sales 0.7x
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