Insider Selling: Carlos M. Cardoso Sells 120,401 Shares of Kennametal Stock (KMT)
Kennametal (NYSE:KMT) CEO Carlos M. Cardoso sold 120,401 shares of the stock on the open market in a transaction dated Monday, August 25th. The shares were sold at an average price of $44.71, for a total transaction of $5,383,128.71. Following the completion of the transaction, the chief executive officer now directly owns 175,910 shares of the company’s stock, valued at approximately $7,864,936. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on KMT shares. 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 assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.20.
Shares of Kennametal (NYSE:KMT) traded up 0.25% on Tuesday, hitting $44.81. 140,380 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 has a 50-day moving average of $44.15 and a 200-day moving average of $45.09. The company has a market cap of $3.526 billion and a price-to-earnings ratio of 22.46.
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. Analysts expect that Kennametal will post $3.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend 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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