Sanjay Chowbey Purchases 10,000 Shares of Kennametal Inc. (NYSE:KMT) Stock

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey acquired 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. This trade represents a 14.79 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Kennametal Stock Up 3.1 %

NYSE:KMT traded up $0.66 during midday trading on Wednesday, reaching $22.19. The company had a trading volume of 908,354 shares, compared to its average volume of 986,385. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.57 and a beta of 1.66. The stock’s fifty day simple moving average is $24.56 and its 200-day simple moving average is $25.56. Kennametal Inc. has a 12-month low of $20.50 and a 12-month high of $32.18.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. On average, sell-side analysts anticipate that Kennametal Inc. will post 1.18 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.61%. Kennametal’s dividend payout ratio is currently 65.57%.

Analysts Set New Price Targets

Several brokerages have recently commented on KMT. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Morgan Stanley decreased their price target on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Jefferies Financial Group cut Kennametal from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a research note on Friday, October 18th. Finally, Loop Capital lifted their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.60.

Institutional Investors Weigh In On Kennametal

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Kennametal during the third quarter worth about $30,000. Blue Trust Inc. grew its stake in Kennametal by 120.9% during the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after buying an additional 716 shares during the last quarter. GAMMA Investing LLC increased its position in Kennametal by 45.9% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after buying an additional 459 shares during the period. Signaturefd LLC lifted its stake in Kennametal by 98.7% in the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,008 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 1,122 shares during the period.

Kennametal Company Profile

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.