Insider Selling: Kennametal Inc. (KMT) VP Sells 5,000 Shares of Stock

Kennametal Inc. (NYSE:KMT) VP Judith L. Bacchus sold 5,000 shares of Kennametal stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $42.70, for a total value of $213,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of NYSE KMT opened at $38.29 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.55. The firm has a market capitalization of $3.24 billion, a P/E ratio of 14.16, a P/E/G ratio of 2.53 and a beta of 2.16. Kennametal Inc. has a 52-week low of $32.91 and a 52-week high of $52.52.

Kennametal (NYSE:KMT) last issued its earnings results on Monday, November 5th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. The business had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $590.22 million. Kennametal had a return on equity of 19.03% and a net margin of 9.03%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. As a group, research analysts expect that Kennametal Inc. will post 3.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, November 9th. Kennametal’s payout ratio is 30.19%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC grew its holdings in shares of Kennametal by 0.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 382,185 shares of the industrial products company’s stock worth $16,648,000 after acquiring an additional 1,350 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Kennametal by 1.3% during the second quarter. Legal & General Group Plc now owns 103,427 shares of the industrial products company’s stock valued at $3,713,000 after buying an additional 1,364 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Kennametal by 21.0% during the second quarter. D.A. Davidson & CO. now owns 8,471 shares of the industrial products company’s stock valued at $304,000 after buying an additional 1,471 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Kennametal by 2.8% during the second quarter. Arizona State Retirement System now owns 56,673 shares of the industrial products company’s stock valued at $2,035,000 after buying an additional 1,534 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Kennametal by 5.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 31,812 shares of the industrial products company’s stock valued at $1,142,000 after buying an additional 1,587 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Several brokerages have recently issued reports on KMT. Stifel Nicolaus reiterated a “hold” rating and set a $47.00 price target on shares of Kennametal in a research report on Thursday, August 9th. Zacks Investment Research upgraded Kennametal from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Friday, October 12th. Bank of America lowered their price target on Kennametal from $40.00 to $35.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 6th. Longbow Research upgraded Kennametal from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Monday, September 10th. Finally, Goldman Sachs Group began coverage on Kennametal in a research report on Tuesday, October 2nd. They set a “buy” rating and a $53.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.58.

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Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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