Intrinsic value of Kennametal - KMT

Previous Close

$51.25

  Intrinsic Value

$2.21

stock screener

  Rating & Target

str. sell

-96%

Previous close

$51.25

 
Intrinsic value

$2.21

 
Up/down potential

-96%

 
Rating

str. sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of KMT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -1.91
  13.60
  12.74
  11.97
  11.27
  10.64
  10.08
  9.57
  9.11
  8.70
  8.33
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.59
  6.43
  6.29
  6.16
  6.05
  5.94
  5.85
  5.76
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
Revenue, $m
  2,058
  2,338
  2,636
  2,951
  3,284
  3,633
  3,999
  4,382
  4,781
  5,198
  5,631
  6,081
  6,549
  7,036
  7,541
  8,067
  8,613
  9,181
  9,771
  10,386
  11,026
  11,693
  12,387
  13,112
  13,867
  14,656
  15,479
  16,339
  17,237
  18,177
  19,159
Variable operating expenses, $m
 
  2,530
  2,849
  3,186
  3,542
  3,915
  4,307
  4,716
  5,143
  5,588
  6,051
  6,503
  7,003
  7,524
  8,064
  8,626
  9,210
  9,818
  10,449
  11,107
  11,791
  12,504
  13,247
  14,021
  14,829
  15,672
  16,553
  17,472
  18,433
  19,438
  20,488
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,945
  2,530
  2,849
  3,186
  3,542
  3,915
  4,307
  4,716
  5,143
  5,588
  6,051
  6,503
  7,003
  7,524
  8,064
  8,626
  9,210
  9,818
  10,449
  11,107
  11,791
  12,504
  13,247
  14,021
  14,829
  15,672
  16,553
  17,472
  18,433
  19,438
  20,488
Operating income, $m
  113
  -192
  -213
  -235
  -258
  -282
  -308
  -334
  -362
  -391
  -421
  -422
  -454
  -488
  -523
  -560
  -598
  -637
  -678
  -721
  -765
  -811
  -859
  -910
  -962
  -1,017
  -1,074
  -1,133
  -1,196
  -1,261
  -1,329
EBITDA, $m
  221
  -69
  -78
  -87
  -97
  -107
  -118
  -129
  -141
  -153
  -166
  -179
  -193
  -207
  -222
  -238
  -254
  -270
  -288
  -306
  -325
  -344
  -365
  -386
  -409
  -432
  -456
  -481
  -508
  -536
  -564
Interest expense (income), $m
  28
  28
  35
  43
  52
  61
  71
  80
  91
  102
  113
  125
  137
  150
  163
  177
  191
  206
  221
  237
  254
  271
  289
  308
  328
  348
  370
  392
  416
  440
  466
Earnings before tax, $m
  82
  -220
  -248
  -278
  -310
  -343
  -378
  -415
  -453
  -492
  -534
  -547
  -591
  -638
  -686
  -736
  -788
  -843
  -899
  -958
  -1,019
  -1,082
  -1,149
  -1,218
  -1,290
  -1,365
  -1,444
  -1,526
  -1,611
  -1,701
  -1,795
Tax expense, $m
  30
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  49
  -220
  -248
  -278
  -310
  -343
  -378
  -415
  -453
  -492
  -534
  -547
  -591
  -638
  -686
  -736
  -788
  -843
  -899
  -958
  -1,019
  -1,082
  -1,149
  -1,218
  -1,290
  -1,365
  -1,444
  -1,526
  -1,611
  -1,701
  -1,795

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  191
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,416
  2,527
  2,849
  3,190
  3,550
  3,928
  4,324
  4,737
  5,169
  5,619
  6,087
  6,574
  7,080
  7,606
  8,153
  8,721
  9,311
  9,925
  10,564
  11,228
  11,920
  12,641
  13,392
  14,175
  14,991
  15,844
  16,734
  17,664
  18,635
  19,651
  20,713
Adjusted assets (=assets-cash), $m
  2,225
  2,527
  2,849
  3,190
  3,550
  3,928
  4,324
  4,737
  5,169
  5,619
  6,087
  6,574
  7,080
  7,606
  8,153
  8,721
  9,311
  9,925
  10,564
  11,228
  11,920
  12,641
  13,392
  14,175
  14,991
  15,844
  16,734
  17,664
  18,635
  19,651
  20,713
Revenue / Adjusted assets
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
  0.925
Average production assets, $m
  937
  1,064
  1,199
  1,343
  1,494
  1,653
  1,820
  1,994
  2,176
  2,365
  2,562
  2,767
  2,980
  3,201
  3,431
  3,670
  3,919
  4,177
  4,446
  4,726
  5,017
  5,320
  5,636
  5,966
  6,310
  6,668
  7,043
  7,434
  7,843
  8,270
  8,717
Working capital, $m
  653
  526
  593
  664
  739
  817
  900
  986
  1,076
  1,169
  1,267
  1,368
  1,474
  1,583
  1,697
  1,815
  1,938
  2,066
  2,199
  2,337
  2,481
  2,631
  2,787
  2,950
  3,120
  3,297
  3,483
  3,676
  3,878
  4,090
  4,311
Total debt, $m
  696
  884
  1,086
  1,301
  1,526
  1,764
  2,012
  2,272
  2,543
  2,826
  3,120
  3,425
  3,743
  4,074
  4,417
  4,774
  5,144
  5,530
  5,931
  6,348
  6,783
  7,235
  7,707
  8,199
  8,712
  9,247
  9,806
  10,390
  11,000
  11,638
  12,305
Total liabilities, $m
  1,398
  1,587
  1,789
  2,004
  2,229
  2,467
  2,715
  2,975
  3,246
  3,529
  3,823
  4,128
  4,446
  4,777
  5,120
  5,477
  5,847
  6,233
  6,634
  7,051
  7,486
  7,938
  8,410
  8,902
  9,415
  9,950
  10,509
  11,093
  11,703
  12,341
  13,008
Total equity, $m
  1,017
  940
  1,060
  1,187
  1,321
  1,461
  1,608
  1,762
  1,923
  2,090
  2,264
  2,446
  2,634
  2,829
  3,033
  3,244
  3,464
  3,692
  3,930
  4,177
  4,434
  4,702
  4,982
  5,273
  5,577
  5,894
  6,225
  6,571
  6,932
  7,310
  7,705
Total liabilities and equity, $m
  2,415
  2,527
  2,849
  3,191
  3,550
  3,928
  4,323
  4,737
  5,169
  5,619
  6,087
  6,574
  7,080
  7,606
  8,153
  8,721
  9,311
  9,925
  10,564
  11,228
  11,920
  12,640
  13,392
  14,175
  14,992
  15,844
  16,734
  17,664
  18,635
  19,651
  20,713
Debt-to-equity ratio
  0.684
  0.940
  1.020
  1.100
  1.160
  1.210
  1.250
  1.290
  1.320
  1.350
  1.380
  1.400
  1.420
  1.440
  1.460
  1.470
  1.490
  1.500
  1.510
  1.520
  1.530
  1.540
  1.550
  1.550
  1.560
  1.570
  1.580
  1.580
  1.590
  1.590
  1.600
Adjusted equity ratio
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  49
  -220
  -248
  -278
  -310
  -343
  -378
  -415
  -453
  -492
  -534
  -547
  -591
  -638
  -686
  -736
  -788
  -843
  -899
  -958
  -1,019
  -1,082
  -1,149
  -1,218
  -1,290
  -1,365
  -1,444
  -1,526
  -1,611
  -1,701
  -1,795
Depreciation, amort., depletion, $m
  108
  123
  135
  148
  161
  175
  190
  205
  221
  238
  255
  243
  261
  281
  301
  322
  344
  366
  390
  415
  440
  467
  494
  523
  553
  585
  618
  652
  688
  725
  765
Funds from operations, $m
  195
  -97
  -113
  -130
  -149
  -168
  -188
  -210
  -232
  -255
  -279
  -304
  -330
  -357
  -385
  -414
  -445
  -476
  -509
  -543
  -579
  -616
  -654
  -695
  -736
  -780
  -826
  -874
  -923
  -976
  -1,030
Change in working capital, $m
  3
  63
  67
  71
  75
  79
  82
  86
  90
  94
  97
  101
  105
  109
  114
  118
  123
  128
  133
  138
  144
  150
  156
  163
  170
  177
  185
  193
  202
  211
  221
Cash from operations, $m
  192
  -160
  -180
  -201
  -224
  -247
  -271
  -296
  -322
  -348
  -376
  -405
  -435
  -466
  -499
  -533
  -568
  -604
  -642
  -682
  -723
  -766
  -811
  -858
  -906
  -958
  -1,011
  -1,067
  -1,126
  -1,187
  -1,251
Maintenance CAPEX, $m
  0
  -82
  -93
  -105
  -118
  -131
  -145
  -160
  -175
  -191
  -207
  -225
  -243
  -261
  -281
  -301
  -322
  -344
  -366
  -390
  -415
  -440
  -467
  -494
  -523
  -553
  -585
  -618
  -652
  -688
  -725
New CAPEX, $m
  -118
  -127
  -136
  -144
  -151
  -159
  -167
  -174
  -182
  -189
  -197
  -205
  -213
  -221
  -230
  -239
  -249
  -258
  -269
  -280
  -291
  -303
  -316
  -330
  -344
  -359
  -375
  -391
  -409
  -427
  -447
Cash from investing activities, $m
  -113
  -209
  -229
  -249
  -269
  -290
  -312
  -334
  -357
  -380
  -404
  -430
  -456
  -482
  -511
  -540
  -571
  -602
  -635
  -670
  -706
  -743
  -783
  -824
  -867
  -912
  -960
  -1,009
  -1,061
  -1,115
  -1,172
Free cash flow, $m
  79
  -369
  -409
  -450
  -493
  -537
  -582
  -629
  -678
  -729
  -781
  -835
  -891
  -949
  -1,010
  -1,073
  -1,138
  -1,206
  -1,277
  -1,351
  -1,428
  -1,509
  -1,593
  -1,681
  -1,774
  -1,870
  -1,971
  -2,076
  -2,187
  -2,302
  -2,424
Issuance/(repayment) of debt, $m
  -1
  189
  202
  214
  226
  237
  249
  260
  271
  282
  294
  306
  318
  330
  343
  357
  371
  386
  401
  417
  434
  453
  472
  492
  513
  535
  559
  584
  610
  638
  667
Issuance/(repurchase) of shares, $m
  0
  333
  368
  405
  444
  484
  525
  569
  613
  660
  708
  728
  780
  833
  889
  948
  1,008
  1,071
  1,137
  1,205
  1,276
  1,351
  1,428
  1,509
  1,594
  1,682
  1,775
  1,872
  1,973
  2,079
  2,190
Cash from financing (excl. dividends), $m  
  14
  522
  570
  619
  670
  721
  774
  829
  884
  942
  1,002
  1,034
  1,098
  1,163
  1,232
  1,305
  1,379
  1,457
  1,538
  1,622
  1,710
  1,804
  1,900
  2,001
  2,107
  2,217
  2,334
  2,456
  2,583
  2,717
  2,857
Total cash flow (excl. dividends), $m
  93
  153
  161
  169
  177
  184
  192
  199
  206
  214
  221
  199
  206
  215
  223
  232
  241
  250
  260
  271
  282
  294
  306
  319
  333
  348
  363
  379
  396
  414
  433
Retained Cash Flow (-), $m
  -53
  -333
  -368
  -405
  -444
  -484
  -525
  -569
  -613
  -660
  -708
  -728
  -780
  -833
  -889
  -948
  -1,008
  -1,071
  -1,137
  -1,205
  -1,276
  -1,351
  -1,428
  -1,509
  -1,594
  -1,682
  -1,775
  -1,872
  -1,973
  -2,079
  -2,190
Prev. year cash balance distribution, $m
 
  190
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  10
  -207
  -236
  -267
  -300
  -334
  -370
  -407
  -446
  -487
  -529
  -573
  -619
  -666
  -716
  -767
  -821
  -876
  -934
  -994
  -1,057
  -1,122
  -1,190
  -1,261
  -1,335
  -1,412
  -1,492
  -1,577
  -1,665
  -1,757
Discount rate, %
 
  5.50
  5.78
  6.06
  6.37
  6.69
  7.02
  7.37
  7.74
  8.13
  8.53
  8.96
  9.41
  9.88
  10.37
  10.89
  11.43
  12.01
  12.61
  13.24
  13.90
  14.59
  15.32
  16.09
  16.89
  17.74
  18.62
  19.56
  20.53
  21.56
  22.64
PV of cash for distribution, $m
 
  10
  -185
  -198
  -209
  -217
  -222
  -225
  -224
  -221
  -215
  -206
  -195
  -182
  -167
  -152
  -136
  -119
  -103
  -88
  -74
  -60
  -49
  -38
  -30
  -23
  -17
  -12
  -8
  -6
  -4
Current shareholders' claim on cash, %
  100
  91.0
  83.0
  75.9
  69.6
  63.8
  58.7
  54.0
  49.7
  45.9
  42.4
  39.3
  36.4
  33.8
  31.4
  29.2
  27.1
  25.2
  23.4
  21.8
  20.3
  18.9
  17.6
  16.3
  15.2
  14.2
  13.2
  12.3
  11.4
  10.7
  9.9

Kennametal Inc. is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense. The Infrastructure segment generally serves customers that operate in the earthworks and energy sectors supporting primary industries, such as oil and gas, power generation, underground, surface and hard-rock mining, highway construction and road maintenance. It provides wear-resistant products, application engineering and services backed by material science serving customers across various sectors. The Company's product offerings include a selection of standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, as well as materials, such as cemented tungsten carbide products and super alloys.

FINANCIAL RATIOS  of  Kennametal (KMT)

Valuation Ratios
P/E Ratio 84.4
Price to Sales 2
Price to Book 4.1
Price to Tangible Book
Price to Cash Flow 21.5
Price to Free Cash Flow 55.9
Growth Rates
Sales Growth Rate -1.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.3%
Cap. Spend. - 3 Yr. Gr. Rate 0.2%
Financial Strength
Quick Ratio 191
Current Ratio 0.1
LT Debt to Equity 68.3%
Total Debt to Equity 68.4%
Interest Coverage 4
Management Effectiveness
Return On Assets 2.8%
Ret/ On Assets - 3 Yr. Avg. -5%
Return On Total Capital 2.9%
Ret/ On T. Cap. - 3 Yr. Avg. -7.9%
Return On Equity 4.9%
Return On Equity - 3 Yr. Avg. -12.5%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 32%
Gross Margin - 3 Yr. Avg. 30.6%
EBITDA Margin 10.6%
EBITDA Margin - 3 Yr. Avg. -0.2%
Operating Margin 5.5%
Oper. Margin - 3 Yr. Avg. -5.5%
Pre-Tax Margin 4%
Pre-Tax Margin - 3 Yr. Avg. -6.7%
Net Profit Margin 2.4%
Net Profit Margin - 3 Yr. Avg. -7.5%
Effective Tax Rate 36.6%
Eff/ Tax Rate - 3 Yr. Avg. 9.5%
Payout Ratio 130.6%

KMT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KMT stock intrinsic value calculation we used $2058 million for the last fiscal year's total revenue generated by Kennametal. The default revenue input number comes from 2017 income statement of Kennametal. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our KMT stock valuation model: a) initial revenue growth rate of 13.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.5%, whose default value for KMT is calculated based on our internal credit rating of Kennametal, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Kennametal.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of KMT stock the variable cost ratio is equal to 108.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for KMT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4% for Kennametal.

Corporate tax rate of 27% is the nominal tax rate for Kennametal. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the KMT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for KMT are equal to 45.5%.

Life of production assets of 11.4 years is the average useful life of capital assets used in Kennametal operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for KMT is equal to 22.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1017 million for Kennametal - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 80.975 million for Kennametal is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Kennametal at the current share price and the inputted number of shares is $4.1 billion.

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COMPANY NEWS

▶ John Rogers Comments on Kennametal Inc.   [Jan-18-18 06:00PM  GuruFocus.com]
▶ Kennametal Names New Business Segment Leaders   [Jan-16-18 06:45AM  PR Newswire]
▶ Kennametal Names Joseph Alvarado to Board of Directors   [Dec-15-17 08:00AM  PR Newswire]
▶ Opening Bell, December 12, 2017   [09:30AM  CNBC Videos]
▶ Why Kennametal Inc.'s Shares Popped Today   [Nov-02-17 04:23PM  Motley Fool]
▶ Kennametal tops Street 1Q forecasts   [05:49AM  Associated Press]
▶ Kennametal Announces Fiscal 2018 First Quarter Results   [Nov-01-17 05:13PM  PR Newswire]
▶ Dow Sprints To Record High; New Breakouts Emerge In Industrials   [Oct-24-17 01:42PM  Investor's Business Daily]
▶ Stocks To Watch: Kennametal Sees Relative Strength Rating Rise To 81   [Sep-26-17 03:00AM  Investor's Business Daily]
▶ Stocks With Rising Relative Strength: Kennametal   [Sep-20-17 03:00AM  Investor's Business Daily]
▶ Weekly CEO Buys Highlights   [Aug-28-17 12:26PM  GuruFocus.com]
▶ ETFs with exposure to Kennametal, Inc. : August 25, 2017   [Aug-25-17 04:45PM  Capital Cube]
▶ Kennametal misses 4Q profit forecasts   [02:12AM  Associated Press]
▶ ETFs with exposure to Kennametal, Inc. : July 24, 2017   [Jul-24-17 04:54PM  Capital Cube]
▶ ETFs with exposure to Kennametal, Inc. : July 14, 2017   [Jul-14-17 03:14PM  Capital Cube]
▶ ETFs with exposure to Kennametal, Inc. : July 3, 2017   [Jul-03-17 03:20PM  Capital Cube]
▶ Rossi appointed CEO at Kennametal   [Jun-29-17 08:20AM  American City Business Journals]
Financial statements of KMT
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