Insider Selling: Kennametal Inc. (KMT) Director Sells 4,445 Shares of Stock
Kennametal Inc. (NYSE:KMT) Director Steven H. Wunning sold 4,445 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $46.63, for a total value of $207,270.35. Following the completion of the sale, the director now directly owns 29,693 shares in the company, valued at approximately $1,384,584.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Kennametal Inc. (KMT) traded down $0.92 during mid-day trading on Tuesday, hitting $45.86. The stock had a trading volume of 1,134,998 shares, compared to its average volume of 819,312. The firm has a market cap of $3,700.00, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 2.34 and a beta of 1.95. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63. Kennametal Inc. has a 1-year low of $29.02 and a 1-year high of $48.89.
Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.17. The business had revenue of $542.45 million during the quarter, compared to the consensus estimate of $516.80 million. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. equities analysts forecast that Kennametal Inc. will post 2.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.74%. Kennametal’s payout ratio is 59.26%.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fortaleza Asset Management Inc. acquired a new stake in Kennametal in the 3rd quarter valued at $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Kennametal by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,556 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 272 shares in the last quarter. World Asset Management Inc acquired a new stake in Kennametal in the 3rd quarter valued at $207,000. Koch Industries Inc. acquired a new stake in Kennametal in the 2nd quarter valued at $211,000. Finally, Oakbrook Investments LLC increased its holdings in Kennametal by 2.6% in the 2nd quarter. Oakbrook Investments LLC now owns 5,950 shares of the industrial products company’s stock valued at $223,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 96.75% of the company’s stock.
A number of equities research analysts recently issued reports on KMT shares. BidaskClub lowered Kennametal from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Wells Fargo & Company raised Kennametal from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $26.10 to $43.50 in a research note on Friday, August 4th. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Friday, August 4th. Stifel Nicolaus reissued a “hold” rating on shares of Kennametal in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co raised Kennametal from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $43.00 in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Kennametal currently has an average rating of “Hold” and an average target price of $45.23.
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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