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.

Insider Buying and Selling by Quarter for Kennametal (NYSE:KMT)

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