Steven H. Wunning Sells 4,445 Shares of Kennametal Inc. (KMT) Stock

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.

Insider Buying and Selling by Quarter for Kennametal (NYSE:KMT)

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