Kennametal Inc. (NYSE:KMT) VP John Wayne Witt Sells 1,765 Shares

Kennametal Inc. (NYSE:KMT) VP John Wayne Witt sold 1,765 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $29.35, for a total value of $51,802.75. Following the transaction, the vice president now owns 1,642 shares in the company, valued at approximately $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kennametal Stock Performance

NYSE KMT opened at $28.49 on Thursday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 2.47 and a beta of 1.64. Kennametal Inc. has a twelve month low of $22.50 and a twelve month high of $32.18. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $26.62 and a 200 day moving average of $25.40.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. Kennametal had a return on equity of 8.35% and a net margin of 4.98%. Kennametal’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Sell-side analysts anticipate that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.81%. Kennametal’s payout ratio is 62.50%.

Hedge Funds Weigh In On Kennametal

A number of large investors have recently bought and sold shares of KMT. Quarry LP raised its holdings in shares of Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 704 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Kennametal during the third quarter valued at approximately $30,000. Canada Pension Plan Investment Board acquired a new position in shares of Kennametal during the second quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in shares of Kennametal during the second quarter valued at approximately $44,000. Finally, Signaturefd LLC raised its holdings in shares of Kennametal by 98.7% during the third quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,008 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KMT shares. Barclays boosted their price target on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Loop Capital boosted their price objective on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, November 19th. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.00.

About Kennametal

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.