Kennametal Inc. (NYSE:KMT) Director Sells $158,592.60 in Stock

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Kennametal Inc. (NYSE:KMT) Director Cindy L. Davis sold 4,644 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $34.15, for a total value of $158,592.60. Following the completion of the transaction, the director now directly owns 11,529 shares in the company, valued at approximately $393,715.35. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

KMT stock opened at $32.43 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.70 billion, a PE ratio of 10.74, a P/E/G ratio of 1.34 and a beta of 2.27. Kennametal Inc. has a 12-month low of $27.49 and a 12-month high of $45.10. The business’s fifty day moving average price is $30.74 and its 200 day moving average price is $34.75.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). The firm had revenue of $603.95 million during the quarter, compared to analysts’ expectations of $643.95 million. Kennametal had a net margin of 10.19% and a return on equity of 18.97%. Kennametal’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. Research analysts predict that Kennametal Inc. will post 2.94 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.20 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.47%. Kennametal’s dividend payout ratio is presently 26.49%.

Several brokerages have recently commented on KMT. Goldman Sachs Group lowered Kennametal from a “buy” rating to a “sell” rating and decreased their price target for the company from $43.00 to $30.00 in a research note on Tuesday, July 16th. UBS Group decreased their price target on Kennametal from $35.00 to $27.00 and set a “sell” rating on the stock in a research note on Wednesday, August 21st. Bank of America decreased their price target on Kennametal from $30.00 to $27.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 6th. ValuEngine lowered Kennametal from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Finally, BMO Capital Markets decreased their price target on Kennametal from $37.00 to $30.50 and set a “market perform” rating on the stock in a research note on Wednesday, August 21st. Five analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $35.93.

Several hedge funds have recently bought and sold shares of the stock. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Kennametal by 10.3% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 291,732 shares of the industrial products company’s stock valued at $10,791,000 after buying an additional 27,159 shares during the period. BlackRock Inc. raised its holdings in shares of Kennametal by 1.5% in the 2nd quarter. BlackRock Inc. now owns 9,669,598 shares of the industrial products company’s stock valued at $357,679,000 after buying an additional 147,035 shares during the period. California Public Employees Retirement System raised its holdings in shares of Kennametal by 7.6% in the 2nd quarter. California Public Employees Retirement System now owns 160,918 shares of the industrial products company’s stock valued at $5,952,000 after buying an additional 11,348 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Kennametal by 752.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 680,895 shares of the industrial products company’s stock valued at $25,187,000 after buying an additional 601,004 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Kennametal by 322.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 39,968 shares of the industrial products company’s stock valued at $1,479,000 after buying an additional 30,504 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Kennametal

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. The company operates through three segments: Industrial, Widia, and Infrastructure.

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