Insider Selling: Kennametal Inc. (NYSE:KMT) VP Sells 1,765 Shares of Stock

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

Kennametal Price Performance

KMT opened at $29.40 on Tuesday. The stock has a fifty day moving average price of $26.49 and a 200 day moving average price of $25.36. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a 1 year low of $22.50 and a 1 year high of $32.18. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.45 and a beta of 1.64.

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

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.72%. Kennametal’s dividend payout ratio (DPR) is 62.50%.

Institutional Investors Weigh In On Kennametal

Institutional investors and hedge funds have recently modified their holdings of the business. O Shaughnessy Asset Management LLC acquired a new stake in shares of Kennametal in the first quarter worth about $228,000. CANADA LIFE ASSURANCE Co grew its holdings in Kennametal by 5.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 67,843 shares of the industrial products company’s stock valued at $1,692,000 after purchasing an additional 3,261 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Kennametal by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,385 shares of the industrial products company’s stock valued at $1,058,000 after purchasing an additional 2,519 shares during the period. First Hawaiian Bank acquired a new stake in shares of Kennametal in the second quarter worth $482,000. Finally, CWM LLC boosted its holdings in shares of Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after buying an additional 970 shares during the period.

Analysts Set New Price Targets

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