Kennametal Inc. (KMT) Director Philip A. Dur Sells 7,000 Shares
Kennametal Inc. (NYSE:KMT) Director Philip A. Dur sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $40.01, for a total transaction of $280,070.00. Following the completion of the sale, the director now owns 22,024 shares of the company’s stock, valued at approximately $881,180.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Kennametal Inc. (KMT) traded up 0.26% on Monday, hitting $42.02. 910,632 shares of the stock were exchanged. The company’s market cap is $3.38 billion. The firm’s 50-day moving average is $39.51 and its 200-day moving average is $36.97. Kennametal Inc. has a one year low of $20.40 and a one year high of $43.09.
Kennametal (NYSE:KMT) last released its earnings results on Tuesday, April 25th. The industrial products company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Kennametal had a negative net margin of 2.09% and a positive return on equity of 11.59%. The business had revenue of $528.60 million for the quarter, compared to the consensus estimate of $511.79 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts forecast that Kennametal Inc. will post $1.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Tuesday, May 16th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.90%. Kennametal’s payout ratio is currently -150.94%.
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Several hedge funds have recently added to or reduced their stakes in the company. Ledyard National Bank acquired a new stake in Kennametal during the first quarter worth approximately $120,000. Tyers Asset Management LLC acquired a new stake in Kennametal during the fourth quarter worth approximately $124,000. Flinton Capital Management LLC acquired a new stake in Kennametal during the fourth quarter worth approximately $151,000. CIBC World Markets Inc. acquired a new stake in Kennametal during the first quarter worth approximately $218,000. Finally, Capstone Asset Management Co. acquired a new stake in Kennametal during the first quarter worth approximately $230,000. Institutional investors and hedge funds own 97.38% of the company’s stock.
A number of research analysts have issued reports on KMT shares. Zacks Investment Research cut shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, March 30th. Longbow Research raised shares of Kennametal from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 1st. Jefferies Group LLC increased their target price on shares of Kennametal from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, April 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $40.00 target price on shares of Kennametal in a report on Thursday, April 20th. Finally, Stifel Nicolaus increased their target price on shares of Kennametal from $38.00 to $44.00 and gave the company a “hold” rating in a report on Friday, April 28th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $41.09.
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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