Kennametal Insider Unloads $236,104 in Stock (KMT)
Kennametal (NYSE:KMT) Insider Martha A. Fusco sold 5,295 shares of Kennametal stock on the open market in a transaction dated Friday, August 22nd. The shares were sold at an average price of $44.59, for a total value of $236,104.05. Following the completion of the transaction, the insider now directly owns 8,469 shares in the company, valued at approximately $377,633. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
KMT has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 12th. They now have a $39.00 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Kennametal from $49.00 to $46.00 in a research note on Friday, August 1st. Finally, analysts at BMO Capital Markets cut their price target on shares of Kennametal from $52.00 to $49.00 in a research note on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $49.20.
Shares of Kennametal (NYSE:KMT) traded up 0.48% on Monday, hitting $44.705. 369,087 shares of the company’s stock traded hands. Kennametal has a one year low of $38.85 and a one year high of $52.37. The stock’s 50-day moving average is $44.13 and its 200-day moving average is $45.04. The company has a market cap of $3.517 billion and a P/E ratio of 22.36.
Kennametal (NYSE:KMT) last released its earnings data on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by $0.14. The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $785.40 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts predict that Kennametal will post $3.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 26th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Friday, August 8th.
Kennametal Inc (NYSE:KMT) is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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