Kennametal Inc. (KMT) Insider Michelle R. Keating Sells 570 Shares
Kennametal Inc. (NYSE:KMT) insider Michelle R. Keating sold 570 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $35.25, for a total value of $20,092.50. Following the sale, the insider now directly owns 6,610 shares of the company’s stock, valued at $233,002.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Kennametal Inc. (KMT) traded up 1.54% during midday trading on Friday, reaching $35.54. The company had a trading volume of 923,411 shares. The company’s 50-day moving average is $36.13 and its 200-day moving average is $38.09. The stock has a market capitalization of $2.87 billion, a PE ratio of 58.26 and a beta of 1.91. Kennametal Inc. has a 1-year low of $26.10 and a 1-year high of $43.09.
Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.08. Kennametal had a net margin of 2.39% and a return on equity of 12.51%. The firm had revenue of $565.03 million during the quarter, compared to the consensus estimate of $562.16 million. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Kennametal Inc. will post $2.20 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 18th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, August 16th. Kennametal’s dividend payout ratio is 133.33%.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kennametal by 8.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock worth $133,000 after buying an additional 272 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Kennametal during the first quarter worth $218,000. Capstone Asset Management Co. purchased a new position in Kennametal during the first quarter worth $230,000. Oakbrook Investments LLC increased its position in Kennametal by 2.6% in the second quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock worth $223,000 after buying an additional 150 shares in the last quarter. Finally, Moller Financial Services purchased a new position in Kennametal during the first quarter worth $235,000. 97.19% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on KMT shares. Zacks Investment Research lowered Kennametal from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub lowered Kennametal from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Wells Fargo & Company raised Kennametal from a “market perform” rating to an “outperform” rating and raised their target price for the company from $26.10 to $43.50 in a research report on Friday, August 4th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Kennametal in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co raised Kennametal from a “neutral” rating to an “overweight” rating and raised their target price for the company from $40.00 to $43.00 in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.41.
Kennametal Company Profile
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.
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