Kennametal Sees Unusually High Options Volume (KMT)
Kennametal Inc. (NYSE:KMT) was the recipient of some unusual options trading activity on Thursday. Traders bought 917 call options on the company. This represents an increase of Infinity compared to the typical daily volume of 0 call options.
In other Kennametal news, insider Christopher Rossi purchased 29,880 shares of Kennametal stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $33.46 per share, for a total transaction of $999,784.80. Following the transaction, the insider now owns 29,850 shares in the company, valued at approximately $998,781. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Charles Michael Jr. Byrnes purchased 1,900 shares of Kennametal stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $33.00 per share, for a total transaction of $62,700.00. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Kennametal by 16,832.4% during the 1st quarter. BlackRock Inc. now owns 8,453,008 shares of the industrial products company’s stock valued at $331,612,000 after buying an additional 8,403,086 shares during the period. Vanguard Group Inc. increased its stake in Kennametal by 18.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock valued at $310,219,000 after buying an additional 1,263,163 shares during the period. State Street Corp increased its stake in Kennametal by 4.4% during the 2nd quarter. State Street Corp now owns 2,653,399 shares of the industrial products company’s stock valued at $99,287,000 after buying an additional 112,547 shares during the period. American Century Companies Inc. increased its stake in Kennametal by 39.4% during the 3rd quarter. American Century Companies Inc. now owns 2,382,709 shares of the industrial products company’s stock valued at $96,118,000 after buying an additional 673,230 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in Kennametal during the 2nd quarter valued at about $76,161,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kennametal (KMT) opened at $46.78 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.71 and a quick ratio of 1.36. Kennametal has a twelve month low of $27.95 and a twelve month high of $48.89. The firm has a market cap of $3,786.89, a PE ratio of 23.99, a P/E/G ratio of 2.48 and a beta of 1.96.
Kennametal (NYSE:KMT) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.17. The firm had revenue of $542.45 million for the quarter, compared to analysts’ expectations of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. Kennametal’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. analysts expect that Kennametal will post 2.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, November 13th. This represents a $0.80 annualized dividend and a yield of 1.71%. Kennametal’s payout ratio is 59.26%.
A number of research firms have recently issued reports on KMT. Credit Suisse Group raised their price target on shares of Kennametal from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday. BMO Capital Markets restated a “hold” rating and issued a $45.00 price target on shares of Kennametal in a research report on Wednesday, August 23rd. Jefferies Group LLC raised their price target on shares of Kennametal from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. BidaskClub downgraded shares of Kennametal from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, J P Morgan Chase & Co upgraded shares of Kennametal from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $43.00 in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $45.23.
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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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