Kennametal pullback a buying opportunity, says Barrington Barrington believes Kennametal's organic volumes are currently bottoming and recommends buying the stock on today's pullback. The firm thinks Kennametal can see strong earnings over the next few years following this morning's guidance reset and keeps an Outperform rating on the stock.
News For KMT From The Last 14 Days
Check below for free stories on KMT the last two weeks.
Kennametal acquires operating assets of Emura Kennametal announced it has signed a definitive agreement to acquire the operating assets of Comercializadora Emura S.R.L. and certain related entities, while securing related material sourcing agreements. The company expects to complete the transaction in July, subject to customary regulatory approvals and negotiated conditions. The acquisition would be immediately accretive to earnings and further Kennametal's efforts to diversify and balance its tungsten sourcing capabilities, following the company's November 2012 announcement outlining plans to develop an advanced carbide recycling facility in the United States serving global markets, while also adding tungsten-cobalt powder capabilities at its Tianjin facility to serve growth in Asia.