Kennametal (NYSE:KMT) CEO Acquires $165,340.00 in Stock

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey acquired 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was purchased at an average cost of $23.62 per share, with a total value of $165,340.00. Following the acquisition, the chief executive officer directly owned 280,957 shares of the company’s stock, valued at $6,636,204.34. This trade represents a 2.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sanjay Chowbey also recently made the following trade(s):

• On Thursday, September 10th, Sanjay Chowbey acquired 7,000 shares of Kennametal stock. The shares were purchased at an average price of $29.10 per share, with a total value of $203,700.00.

Kennametal Price Performance

Shares of KMT stock opened at $23.06 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.45 and a quick ratio of 1.24. The company has a market capitalization of $1.78 billion, a PE ratio of 3.04, a price-to-earnings-growth ratio of 0.21 and a beta of 1.30. The firm’s 50-day moving average is $30.10 and its two-hundred day moving average is $34.42. Kennametal Inc. has a 12 month low of $22.65 and a 12 month high of $43.81.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.83. The business had revenue of $768.19 million during the quarter, compared to analysts’ expectations of $770.36 million. Kennametal had a net margin of 22.49% and a return on equity of 38.40%. The business’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. Analysts predict that Kennametal Inc. will post 5.18 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 9th. Kennametal’s dividend payout ratio is presently 10.55%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KMT. Morgan Stanley lowered Kennametal from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $31.00 to $27.00 in a research note on Monday, August 10th. Zacks Research downgraded Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. cut their price objective on Kennametal from $30.00 to $27.00 and set an “underweight” rating for the company in a research report on Thursday. Wall Street Zen lowered shares of Kennametal from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, DA Davidson decreased their target price on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Five research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Kennametal currently has an average rating of “Reduce” and an average price target of $33.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KMT. BlackRock Inc. purchased a new position in shares of Kennametal in the 2nd quarter valued at about $440,446,000. Arrowstreet Capital Limited Partnership lifted its stake in Kennametal by 15.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,298,349 shares of the industrial products company’s stock worth $83,039,000 after purchasing an additional 307,209 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Kennametal in the second quarter valued at approximately $69,614,000. Medina Value Partners LLC acquired a new position in Kennametal in the second quarter valued at approximately $43,007,296. Finally, NFJ Investment Group LLC acquired a new position in Kennametal in the second quarter valued at approximately $36,202,000.

Kennametal Company Profile

Kennametal Inc (NYSE: KMT) is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.

The company’s offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.

Founded in 1938 by Philip M.