Judith L. Bacchus Sells 18,125 Shares of Kennametal Inc. (KMT) Stock
Kennametal Inc. (NYSE:KMT) VP Judith L. Bacchus sold 18,125 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $47.00, for a total value of $851,875.00. Following the sale, the vice president now directly owns 38,528 shares of the company’s stock, valued at $1,810,816. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Kennametal Inc. (NYSE:KMT) traded down $0.68 during mid-day trading on Wednesday, hitting $45.78. The stock had a trading volume of 835,600 shares, compared to its average volume of 904,275. Kennametal Inc. has a twelve month low of $31.12 and a twelve month high of $48.89. The stock has a market capitalization of $3,765.50, a PE ratio of 23.83, a P/E/G ratio of 2.20 and a beta of 1.98. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63.
Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business had revenue of $542.45 million during the quarter, compared to analysts’ expectations of $516.80 million. During the same quarter last year, the business posted $0.11 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. analysts forecast that Kennametal Inc. will post 2.54 EPS for the current year.
KMT has been the subject of a number of recent analyst reports. TheStreet raised Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Jefferies Group raised their target price on Kennametal from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, October 4th. ValuEngine downgraded Kennametal from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $45.00 target price on shares of Kennametal in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.23.
Several hedge funds have recently made changes to their positions in KMT. Capstone Asset Management Co. increased its position in shares of Kennametal by 4.9% in the second quarter. Capstone Asset Management Co. now owns 6,155 shares of the industrial products company’s stock valued at $230,000 after buying an additional 290 shares in the last quarter. Aperio Group LLC increased its position in Kennametal by 13.6% during the 2nd quarter. Aperio Group LLC now owns 22,673 shares of the industrial products company’s stock worth $848,000 after purchasing an additional 2,707 shares in the last quarter. Russell Investments Group Ltd. increased its position in Kennametal by 135.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 161,411 shares of the industrial products company’s stock worth $6,039,000 after purchasing an additional 92,774 shares in the last quarter. ING Groep NV purchased a new stake in Kennametal during the 2nd quarter worth about $367,000. Finally, Strs Ohio increased its position in Kennametal by 5.9% during the 2nd quarter. Strs Ohio now owns 9,000 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.
Kennametal Company Profile
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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