Insider Selling: Kennametal VP Sells 3,897 Shares of Stock (KMT)
Kennametal (NYSE:KMT) VP Judith L. Bacchus sold 3,897 shares of Kennametal stock on the open market in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $44.83, for a total value of $174,702.51. Following the transaction, the vice president now directly owns 9,418 shares in the company, valued at approximately $422,209. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Kennametal (NYSE:KMT) traded down 0.56% on Thursday, hitting $44.68. The stock had a trading volume of 136,339 shares. Kennametal has a 52-week low of $38.85 and a 52-week 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 $3.515 billion and a P/E ratio of 22.58.
Kennametal (NYSE:KMT) last announced its earnings results 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.
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 equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Kennametal has a consensus rating of “Hold” and an average price target of $49.20.
Kennametal Inc (NYSE:KMT) is a supplier of tooling, engineered components and advanced materials consumed in production processes.
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