Insider Selling: Kennametal VP Sells 3,735 Shares of Stock (KMT)
Kennametal (NYSE:KMT) VP Brian E. Kelly sold 3,735 shares of Kennametal stock on the open market in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $46.50, for a total value of $173,677.50. Following the transaction, the vice president now directly owns 11,136 shares in the company, valued at approximately $517,824. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Kennametal (NYSE:KMT) traded up 1.44% during mid-day trading on Monday, hitting $47.80. 176,170 shares of the company’s stock traded hands. Kennametal has a one year low of $37.92 and a one year high of $52.37. The stock has a 50-day moving average of $46.39 and a 200-day moving average of $46.55. The company has a market cap of $3.755 billion and a price-to-earnings ratio of 21.59.
Kennametal (NYSE:KMT) last announced its earnings results on Thursday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts expect that Kennametal will post $2.66 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Kennametal from an “underperform” rating to a “neutral” rating in a research note on Friday, May 16th. They now have a $49.00 price target on the stock. 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $49.82.
Kennametal Inc (NYSE:KMT) is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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