Kennametal Inc. (NYSE:KMT) VP Sells $51,802.75 in Stock

Kennametal Inc. (NYSE:KMT) VP John Wayne Witt sold 1,765 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the completion of the sale, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. The trade was a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Kennametal Stock Down 0.1 %

Shares of NYSE KMT opened at $28.49 on Thursday. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.21 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.47 and a beta of 1.64. The stock’s fifty day simple moving average is $26.62 and its two-hundred day simple moving average is $25.40. Kennametal Inc. has a 12-month low of $22.50 and a 12-month high of $32.18.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The business had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. As a group, analysts expect that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.80 annualized dividend and a yield of 2.81%. Kennametal’s dividend payout ratio (DPR) is presently 62.50%.

Institutional Trading of Kennametal

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP grew its stake in Kennametal by 198.9% during the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after buying an additional 704 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Kennametal during the 3rd quarter worth $30,000. Canada Pension Plan Investment Board purchased a new position in Kennametal during the 2nd quarter worth $28,000. Quest Partners LLC purchased a new position in Kennametal during the 2nd quarter worth $44,000. Finally, Signaturefd LLC grew its stake in Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,008 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on KMT shares. Loop Capital raised their price objective on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a report on Friday, October 18th. Barclays raised their price objective on Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, StockNews.com downgraded Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Kennametal has a consensus rating of “Hold” and a consensus target price of $25.00.

Kennametal Company Profile

Kennametal Inc engages in development and application of 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. The company operates through two segments, Metal Cutting and Infrastructure.