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News Breaks
December 11, 2012
10:50 EDTKMTKennametal reports orders down 2% for three months ended November
Kennametal reported orders for the 3 months ended November 30, stating that consolidated orders on a reported basis decreased by 2% compared with the prior year. Organic growth was 8% lower than the prior year period in local currency terms. In addition, the orders rates continue to reflect an unfavorable effect from foreign currency exchange, the company said. In November, Kennametalís order rates reflected a decrease from prior year levels, as order rates for the Industrial segment declined, primarily due to ongoing weakness in general engineering and transportation sectors, partially offset by continuing growth in the aerospace industry. On a year-over-year basis, the Infrastructure segment reported lower activity in both its energy and earthworks markets. Orders activity benefited from acquisition growth related to the Stellite business, the company said.
News For KMT From The Last 14 Days
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February 4, 2016
08:22 EDTKMTKennametal upgraded to Neutral on valuation at Longbow
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06:50 EDTKMTKennametal appoints Ronald DeFea CEO effective immediately
The board of Kennametal announced the appointment of board member Ronald DeFeo as the company's President and CEO, effective immediately. DeFeo replaces Donald Nolan, who has left the company to pursue other interests. DeFeo served as the Chairman of the Board and Chief Executive Officer of Terex Corporation from March 1998 and March 1995, respectively, until his retirement from the company at the end of 2015.
06:40 EDTKMTKennametal upgraded to Neutral from Underperform at Longbow
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February 3, 2016
06:37 EDTKMTKennametal lowers FY16 adjusted EPS view to 85c-$1.05 from $1.50-$1.70
Consensus 81c. The company now expects FY16 total sales to decline in the range of 20%-23% and organic sales to decline in the range of 10%-13%. Previously, our October guidance provided in Q1 earnings release, the decline in total sales was projected to be in the range of 10%-14%, with a decline in organic sales of 6%-10%. The current guidance reflects the impact of the sale of non-core businesses, whereas the previous guidance did not reflect this transaction.
06:34 EDTKMTKennametal reports Q2 adjusted EPS 14c, consensus 12c
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February 1, 2016
10:00 EDTKMTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
08:19 EDTKMTKennametal upgraded to Neutral on valuation at BofA/Merrill
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06:28 EDTKMTKennametal upgraded to Neutral from Underperform at BofA/Merrill

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