Kennametal Inc. (NYSE:KMT) Director Lawrence W. Stranghoener sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $38.73, for a total value of $271,110.00. Following the completion of the transaction, the director now owns 26,108 shares in the company, valued at approximately $1,011,162.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of KMT stock opened at $38.68 on Wednesday. The company has a current ratio of 2.60, a quick ratio of 1.47 and a debt-to-equity ratio of 0.57. Kennametal Inc. has a 1 year low of $32.23 and a 1 year high of $52.52. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 3.00 and a beta of 2.03.
Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, May 2nd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.02). Kennametal had a net margin of 6.83% and a return on equity of 17.01%. The business had revenue of $607.94 million for the quarter, compared to the consensus estimate of $601.10 million. During the same period in the previous year, the firm earned $0.60 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. sell-side analysts expect that Kennametal Inc. will post 2.6 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Shareholders of record on Tuesday, May 15th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.07%. Kennametal’s payout ratio is 52.63%.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Kennametal by 3.9% during the 1st quarter. BlackRock Inc. now owns 8,853,653 shares of the industrial products company’s stock valued at $355,564,000 after acquiring an additional 328,921 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in Kennametal by 7.6% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,966,940 shares of the industrial products company’s stock valued at $143,630,000 after acquiring an additional 208,677 shares during the period. Alliancebernstein L.P. raised its holdings in Kennametal by 3.0% during the 4th quarter. Alliancebernstein L.P. now owns 2,612,672 shares of the industrial products company’s stock valued at $126,479,000 after acquiring an additional 75,468 shares during the period. Victory Capital Management Inc. raised its holdings in Kennametal by 109.9% during the 1st quarter. Victory Capital Management Inc. now owns 2,121,043 shares of the industrial products company’s stock valued at $85,182,000 after acquiring an additional 1,110,683 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Kennametal by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,070,530 shares of the industrial products company’s stock valued at $83,152,000 after acquiring an additional 55,652 shares during the period. 99.82% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Kennametal from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. ValuEngine downgraded Kennametal from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Stifel Nicolaus dropped their price objective on Kennametal from $52.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, May 4th. Barrington Research reiterated a “buy” rating and issued a $53.00 price objective on shares of Kennametal in a research note on Tuesday, May 1st. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $48.00 price objective (down previously from $53.00) on shares of Kennametal in a research note on Thursday, April 19th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Kennametal has an average rating of “Hold” and a consensus target price of $49.18.
Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. It operates through three segments: Industrial, Widia, and Infrastructure.
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