Kennametal (NYSE:KMT) Issues Quarterly Earnings Results
Kennametal (NYSE:KMT) issued its quarterly earnings results on Sunday. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.11, MarketWatch Earnings reports. Kennametal had a positive return on equity of 5.19% and a negative net margin of 1.91%. The company had revenue of $484.66 million for the quarter, compared to analysts’ expectations of $471.43 million. During the same period last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis.
KMT stock traded up $0.33 during mid-day trading on Tuesday, hitting $41.30. 1,405,279 shares of the company were exchanged, compared to its average volume of 652,922. The company has a current ratio of 2.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The business has a 50 day simple moving average of $41.00 and a 200-day simple moving average of $37.64. Kennametal has a 1-year low of $20.40 and a 1-year high of $43.04. The stock has a market capitalization of $3.45 billion, a PE ratio of -100.73, a price-to-earnings-growth ratio of 9.80 and a beta of 2.09.
In other news, Director Cindy L. Davis sold 14,000 shares of the stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $40.50, for a total value of $567,000.00. Following the completion of the transaction, the director now directly owns 28,588 shares in the company, valued at approximately $1,157,814. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Judith L. Bacchus sold 20,922 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $40.53, for a total value of $847,968.66. Following the sale, the vice president now owns 28,696 shares in the company, valued at $1,163,048.88. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
Kennametal Company Profile
Kennametal Inc develops and applies tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.
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