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.
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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