Insider Selling: Kennametal Director Sells 3,880 Shares of Stock (KMT)
Kennametal (NYSE:KMT) Director Lawrence W. Stranghoener sold 3,880 shares of the stock on the open market in a transaction dated Monday, June 9th. The stock was sold at an average price of $47.70, for a total transaction of $185,076.00. Following the completion of the sale, the director now directly owns 16,268 shares in the company, valued at approximately $775,984. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Kennametal (NYSE:KMT) traded up 0.98% during mid-day trading on Tuesday, hitting $48.43. 261,966 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 $46.44 and a 200-day moving average of $46.57. The company has a market cap of $3.805 billion and a P/E ratio of 21.98.
Kennametal (NYSE:KMT) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts predict that Kennametal will post $2.66 earnings per share for the current fiscal year.
A number of research firms have recently commented on KMT. 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Kennametal has an average rating of “Hold” and a consensus target price 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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