Kennametal Inc. (KMT) Insider Sells C$135,680.00 in Stock
Kennametal Inc. (NYSE:KMT) insider Judith L. Bacchus sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of C$33.92, for a total transaction of C$135,680.00. Following the completion of the transaction, the insider now directly owns 7,383 shares in the company, valued at C$250,431.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Kennametal Inc. (NYSE:KMT) opened at 34.36 on Thursday. The company’s market cap is $2.75 billion. The company has a 50-day moving average of $29.56 and a 200-day moving average of $26.38. Kennametal Inc. has a 52 week low of $15.11 and a 52 week high of $35.37.
Kennametal (NYSE:KMT) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.03. The company earned $477 million during the quarter, compared to the consensus estimate of $483.61 million. Kennametal had a positive return on equity of 7.94% and a negative net margin of 11.95%. The firm’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. On average, equities analysts expect that Kennametal Inc. will post $1.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Friday, November 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.33%. Kennametal’s payout ratio is -26.49%.
A number of equities analysts have issued reports on KMT shares. Zacks Investment Research cut shares of Kennametal from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Jefferies Group reissued a “buy” rating and set a $35.00 price target on shares of Kennametal in a research report on Tuesday, October 18th. Seaport Global Securities cut shares of Kennametal from an “accumulate” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research report on Thursday, August 18th. Goldman Sachs Group Inc. raised shares of Kennametal from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $26.00 to $36.00 in a research report on Monday, October 31st. Finally, Barrington Research lifted their price target on shares of Kennametal from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of C$26.45.
Hedge funds have recently added to or reduced their stakes in the company. State Treasurer State of Michigan raised its stake in Kennametal by 0.3% in the third quarter. State Treasurer State of Michigan now owns 32,060 shares of the company’s stock worth $930,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank raised its position in shares of Kennametal by 2.4% in the second quarter. Amalgamated Bank now owns 9,816 shares of the company’s stock valued at $283,000 after buying an additional 228 shares in the last quarter. Comerica Bank raised its position in shares of Kennametal by 0.5% in the second quarter. Comerica Bank now owns 63,620 shares of the company’s stock valued at $1,755,000 after buying an additional 292 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Kennametal by 7.3% in the third quarter. LS Investment Advisors LLC now owns 5,233 shares of the company’s stock valued at $152,000 after buying an additional 355 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Kennametal by 1.4% in the second quarter. PNC Financial Services Group Inc. now owns 28,067 shares of the company’s stock valued at $622,000 after buying an additional 387 shares in the last quarter. Institutional investors and hedge funds own 98.23% of the company’s stock.
Kennametal Company Profile
Kennametal Inc (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science, serving customers across diverse sectors of industrial production, transportation, earthworks, energy, infrastructure and aerospace.
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