Kennametal CEO Sells $1,910,400 in Stock (KMT)
Kennametal (NYSE:KMT) CEO Carlos M. Cardoso sold 40,000 shares of the stock on the open market in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $47.76, for a total value of $1,910,400.00. Following the transaction, the chief executive officer now directly owns 168,563 shares of the company’s stock, valued at approximately $8,050,569. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on KMT. Analysts at UBS AG raised their price target on shares of Kennametal from $46.00 to $49.00 in a research note on Friday, May 2nd. Separately, analysts at BMO Capital Markets raised their price target on shares of Kennametal from $49.00 to $52.00 in a research note on Friday, May 2nd. Finally, analysts at Wells Fargo & Co. upgraded shares of Kennametal from a “market perform” rating to an “outperform” rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Kennametal presently has a consensus rating of “Hold” and an average price target of $49.17.
Kennametal (NYSE:KMT) traded up 0.63% on Monday, hitting $47.60. The stock had a trading volume of 406,004 shares. Kennametal has a 1-year low of $37.92 and a 1-year high of $52.37. The stock has a 50-day moving average of $45.58 and a 200-day moving average of $46.62. The company has a market cap of $3.740 billion and a P/E ratio of 21.68.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.74 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.73 by $0.01. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $759.19 million. During the same quarter last year, the company posted $0.67 earnings per share. Kennametal’s revenue was up 15.3% compared to the same quarter last year. Analysts expect that Kennametal will post $2.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 28th. Investors of record on Tuesday, May 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, May 9th.
Kennametal Inc (NYSE:KMT) is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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