Kennametal VP Kevin G. Nowe Sells 2,718 Shares (KMT)
Kennametal (NYSE:KMT) VP Kevin G. Nowe unloaded 2,718 shares of the stock on the open market in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $44.77, for a total value of $121,684.86. Following the completion of the sale, the vice president now directly owns 28,418 shares in the company, valued at approximately $1,272,274. The sale was disclosed in a legal filing with the SEC, 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 assigned a buy rating to the company’s stock. Kennametal has a consensus rating of “Hold” and an average price target of $49.20.
Kennametal (NYSE:KMT) traded up 0.56% on Wednesday, hitting $44.93. The stock had a trading volume of 354,409 shares. Kennametal has a 1-year low of $38.85 and a 1-year high of $52.37. The stock’s 50-day moving average is $44.14 and its 200-day moving average is $45.10. The company has a market cap of $3.535 billion and a price-to-earnings ratio of 22.45.
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 prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue 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.
Kennametal Inc (NYSE:KMT) is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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