Kennametal (NYSE:KMT) Shares Gap Up to $40.97


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Kennametal Inc. (NYSE:KMT) gapped up prior to trading on Tuesday . The stock had previously closed at $40.97, but opened at $41.99. Kennametal shares last traded at $39.78, with a volume of 13,412 shares changing hands.

Several research analysts have recently commented on KMT shares. Morgan Stanley raised their price objective on shares of Kennametal from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, April 19th. Barclays upped their price objective on Kennametal from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 5th. Jefferies Financial Group upped their price target on Kennametal from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, January 15th. BMO Capital Markets lifted their price objective on Kennametal from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Wednesday, February 3rd. Finally, UBS Group cut shares of Kennametal from a “buy” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $35.00 in a report on Monday, February 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $36.00.

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.03. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -99.15, a price-to-earnings-growth ratio of 9.80 and a beta of 2.09. The firm’s 50-day simple moving average is $41.00 and its two-hundred day simple moving average is $37.64.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Sunday, May 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.11. Kennametal had a positive return on equity of 5.19% and a negative net margin of 1.91%. The business had revenue of $484.66 million during the quarter, compared to the consensus estimate of $471.43 million. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, analysts expect that Kennametal Inc. will post 0.79 EPS for the current fiscal year.

In other Kennametal news, Director Cindy L. Davis sold 14,000 shares of the company’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $40.50, for a total value of $567,000.00. Following the completion of the transaction, the director now directly owns 28,588 shares of the company’s stock, valued at approximately $1,157,814. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Judith L. Bacchus sold 20,922 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $40.53, for a total value of $847,968.66. Following the sale, the vice president now owns 28,696 shares of the company’s stock, valued at approximately $1,163,048.88. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. CI Investments Inc. bought a new position in Kennametal during the fourth quarter valued at about $28,000. Samalin Investment Counsel LLC purchased a new position in Kennametal in the fourth quarter valued at about $36,000. LPL Financial LLC bought a new position in Kennametal during the fourth quarter valued at approximately $208,000. Zeke Capital Advisors LLC acquired a new stake in shares of Kennametal in the 1st quarter valued at $220,000. Finally, Uncommon Cents Investing LLC acquired a new position in shares of Kennametal during the 4th quarter valued at about $227,000.

About Kennametal (NYSE:KMT)

Kennametal Inc develops and applies tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.

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