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 dated Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total value of $578,072.80. Following the completion of the transaction, the vice president now owns 39,581 shares of the company’s stock, valued at $1,117,767.44. The trade was a 34.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Kennametal Trading Down 2.2 %

NYSE KMT opened at $27.26 on Monday. The firm’s fifty day moving average price is $27.01 and its 200 day moving average price is $25.52. Kennametal Inc. has a 12 month low of $22.50 and a 12 month high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.38 and a beta of 1.65.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (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 company had revenue of $481.90 million during the quarter, compared to the consensus estimate of $485.26 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Kennametal’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

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

Institutional Investors Weigh In On Kennametal

Several large investors have recently modified their holdings of KMT. Quarry LP raised its position in Kennametal by 198.9% in the 2nd quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 704 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Kennametal in the second quarter valued at $28,000. Wilmington Savings Fund Society FSB acquired a new position in Kennametal in the third quarter valued at $30,000. Quest Partners LLC purchased a new stake in shares of Kennametal in the second quarter valued at about $44,000. Finally, Signaturefd LLC boosted its stake 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 worth $53,000 after buying an additional 1,008 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KMT shares. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target for the company. in a research note on Friday, October 18th. Loop Capital lifted their price objective on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 19th. Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $32.00 in a report on Friday. Finally, StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.17.

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.