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

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $21.75 per share, with a total value of $217,500.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kennametal Stock Performance

NYSE KMT opened at $22.47 on Friday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.57 and a beta of 1.66. The business’s 50 day moving average is $24.33 and its two-hundred day moving average is $25.52. Kennametal Inc. has a 12-month low of $20.50 and a 12-month high of $32.18. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.47.

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 return on equity of 8.12% and a net margin of 4.76%. Research analysts expect that Kennametal Inc. will post 1.18 EPS for the current year.

Kennametal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.56%. Kennametal’s dividend payout ratio is presently 65.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KMT shares. Bank of America cut shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a report on Friday, October 18th. Loop Capital upped their price objective on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Morgan Stanley lowered their target price 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 cut their price target for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Finally, Barclays lowered their price objective on shares of Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.60.

Institutional Trading of Kennametal

Several hedge funds and other institutional investors have recently made changes to their positions in KMT. Wilmington Savings Fund Society FSB purchased a new position in Kennametal in the third quarter valued at about $30,000. Blue Trust Inc. grew its holdings in shares of Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 716 shares during the period. GAMMA Investing LLC increased its stake in Kennametal by 45.9% in the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 459 shares in the last quarter. Headlands Technologies LLC raised its holdings in Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 1,444 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in 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 purchasing an additional 1,008 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.