Kennametal Inc. (KMT) Director Sells $329,000.00 in Stock
Kennametal Inc. (NYSE:KMT) Director Timothy R. Mclevish sold 7,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $47.00, for a total transaction of $329,000.00. Following the sale, the director now owns 78,904 shares in the company, valued at approximately $3,708,488. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Kennametal Inc. (KMT) traded down $0.68 during trading on Wednesday, reaching $45.78. 835,600 shares of the company’s stock were exchanged, compared to its average volume of 904,275. Kennametal Inc. has a 1 year low of $31.12 and a 1 year high of $48.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.71 and a quick ratio of 1.41. The firm has a market capitalization of $3,765.50, a price-to-earnings ratio of 23.83, a P/E/G ratio of 2.20 and a beta of 1.98.
Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.17. The firm had revenue of $542.45 million during the quarter, compared to the consensus estimate of $516.80 million. Kennametal had a net margin of 5.18% and a return on equity of 15.71%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. research analysts expect that Kennametal Inc. will post 2.54 earnings per share for the current year.
A number of analysts have weighed in on the stock. BMO Capital Markets restated a “hold” rating and issued a $45.00 target price on shares of Kennametal in a research report on Wednesday, August 23rd. ValuEngine lowered shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. TheStreet upgraded shares of Kennametal from a “c+” rating to a “b” rating in a research report on Thursday, November 2nd. Jefferies Group restated a “buy” rating and issued a $50.00 target price on shares of Kennametal in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Kennametal from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.23.
Several hedge funds have recently added to or reduced their stakes in KMT. Capstone Asset Management Co. raised its stake in shares of Kennametal by 4.9% during the second quarter. Capstone Asset Management Co. now owns 6,155 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 290 shares during the last quarter. Aperio Group LLC raised its stake in shares of Kennametal by 13.6% during the second quarter. Aperio Group LLC now owns 22,673 shares of the industrial products company’s stock valued at $848,000 after acquiring an additional 2,707 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Kennametal by 135.2% during the second quarter. Russell Investments Group Ltd. now owns 161,411 shares of the industrial products company’s stock valued at $6,039,000 after acquiring an additional 92,774 shares during the last quarter. ING Groep NV bought a new position in shares of Kennametal during the second quarter valued at $367,000. Finally, Strs Ohio raised its stake in shares of Kennametal by 5.9% during the second quarter. Strs Ohio now owns 9,000 shares of the industrial products company’s stock valued at $336,000 after acquiring an additional 500 shares during the last quarter. 98.67% of the stock is owned by hedge funds and other institutional investors.
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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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