Kennametal Inc. (NYSE:KMT) VP Sells $578,072.80 in Stock

Kennametal Inc. (NYSE:KMT) VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total value of $578,072.80. Following the sale, the vice president now owns 39,581 shares in the company, valued at $1,117,767.44. This trade represents a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Kennametal Stock Down 2.2 %

KMT stock opened at $27.26 on Friday. The stock has a 50-day simple moving average of $27.01 and a two-hundred day simple moving average of $25.53. The company has a quick ratio of 1.16, a current ratio of 2.52 and a debt-to-equity ratio of 0.45. Kennametal Inc. has a twelve month low of $22.50 and a twelve month high of $32.18. The firm has a market capitalization of $2.12 billion, a PE ratio of 21.30, a PEG ratio of 2.38 and a beta of 1.65.

Kennametal (NYSE:KMT) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The firm had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. During the same period last year, the firm earned $0.41 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that Kennametal Inc. will post 1.45 EPS for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.20 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.93%. Kennametal’s payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KMT. StockNews.com downgraded shares of Kennametal from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Loop Capital increased 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. Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $32.00 in a report on Friday. Barclays increased their price objective on Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Bank of America lowered 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 research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.17.

Hedge Funds Weigh In On Kennametal

A number of institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Kennametal in the 3rd quarter worth $30,000. Sanctuary Advisors LLC increased its position in shares of Kennametal by 19.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 22,402 shares of the industrial products company’s stock valued at $581,000 after purchasing an additional 3,627 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Kennametal during the 3rd quarter valued at about $342,000. Geode Capital Management LLC raised its holdings in shares of Kennametal by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,939 shares of the industrial products company’s stock valued at $47,096,000 after buying an additional 17,265 shares in the last quarter. Finally, Barclays PLC lifted its position in Kennametal by 95.6% in the 3rd quarter. Barclays PLC now owns 163,670 shares of the industrial products company’s stock worth $4,244,000 after buying an additional 79,992 shares during the last quarter.

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.