Kennametal Inc. (NYSE:KMT) Director Steven H. Wunning sold 4,445 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $46.63, for a total value of $207,270.35. Following the transaction, the director now directly owns 29,693 shares of the company’s stock, valued at $1,384,584.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Kennametal Inc. (NYSE KMT) opened at $44.89 on Thursday. Kennametal Inc. has a 52 week low of $29.02 and a 52 week high of $48.89. The company has a current ratio of 2.71, a quick ratio of 1.41 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3,677.97, a P/E ratio of 23.27, a PEG ratio of 2.20 and a beta of 1.96.
Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.17. Kennametal had a return on equity of 15.71% and a net margin of 5.18%. The business had revenue of $542.45 million during the quarter, compared to analysts’ expectations of $516.80 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. research analysts forecast that Kennametal Inc. will post 2.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Monday, November 13th. Kennametal’s payout ratio is 59.26%.
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A number of brokerages have recently commented on KMT. Zacks Investment Research raised Kennametal from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, August 4th. BMO Capital Markets reaffirmed a “hold” rating and issued a $45.00 price target on shares of Kennametal in a report on Wednesday, August 23rd. TheStreet raised Kennametal from a “c+” rating to a “b” rating in a report on Thursday, November 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Kennametal in a report on Thursday, September 21st. Finally, Credit Suisse Group upped their price target on Kennametal from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.23.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Kennametal by 18.0% in the second quarter. Vanguard Group Inc. now owns 8,290,187 shares of the industrial products company’s stock worth $310,219,000 after acquiring an additional 1,263,163 shares in the last quarter. State Street Corp raised its position in Kennametal by 4.4% in the second quarter. State Street Corp now owns 2,653,399 shares of the industrial products company’s stock worth $99,287,000 after acquiring an additional 112,547 shares in the last quarter. American Century Companies Inc. grew its holdings in Kennametal by 39.4% in the third quarter. American Century Companies Inc. now owns 2,382,709 shares of the industrial products company’s stock valued at $96,118,000 after purchasing an additional 673,230 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Kennametal in the second quarter valued at $76,161,000. Finally, Alliancebernstein L.P. grew its holdings in Kennametal by 48.1% in the second quarter. Alliancebernstein L.P. now owns 1,543,511 shares of the industrial products company’s stock valued at $57,758,000 after purchasing an additional 501,090 shares during the last quarter. Hedge funds and other institutional investors own 96.75% of the company’s stock.
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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