Kennametal Inc. (NYSE:KMT) VP John Wayne Witt Sells 579 Shares

Kennametal Inc. (NYSE:KMTGet Free Report) VP John Wayne Witt sold 579 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $24.37, for a total transaction of $14,110.23. Following the transaction, the vice president now directly owns 764 shares of the company’s stock, valued at approximately $18,618.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kennametal Stock Performance

NYSE KMT opened at $23.77 on Friday. The business’s 50 day moving average price is $24.81 and its 200-day moving average price is $24.77. Kennametal Inc. has a fifty-two week low of $22.08 and a fifty-two week high of $30.60. The company has a market cap of $1.87 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.40 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 2.42.

Kennametal (NYSE:KMTGet Free Report) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). Kennametal had a net margin of 5.29% and a return on equity of 9.35%. The firm had revenue of $515.80 million during the quarter, compared to analysts’ expectations of $518.50 million. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts predict that Kennametal Inc. will post 1.47 earnings per share for the current year.

Kennametal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.37%. Kennametal’s dividend payout ratio is 59.26%.

Analysts Set New Price Targets

A number of research firms recently commented on KMT. Loop Capital boosted their target price on Kennametal from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, May 23rd. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Finally, Barclays raised their target price on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.17.

Check Out Our Latest Analysis on KMT

Institutional Investors Weigh In On Kennametal

A number of institutional investors and hedge funds have recently modified their holdings of KMT. Swiss National Bank lifted its position in shares of Kennametal by 0.7% during the third quarter. Swiss National Bank now owns 167,600 shares of the industrial products company’s stock worth $4,170,000 after purchasing an additional 1,100 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Kennametal by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,180,022 shares of the industrial products company’s stock worth $29,359,000 after buying an additional 31,759 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Kennametal by 40.2% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 103,364 shares of the industrial products company’s stock valued at $2,572,000 after buying an additional 29,628 shares during the period. Deutsche Bank AG boosted its position in Kennametal by 12.8% in the 3rd quarter. Deutsche Bank AG now owns 39,352 shares of the industrial products company’s stock valued at $979,000 after buying an additional 4,469 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in Kennametal in the 3rd quarter worth about $62,000.

About Kennametal

(Get Free Report)

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.

Further Reading

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