Insider Selling: Kennametal Inc. (NYSE:KMT) VP Sells 1,765 Shares of Stock

Kennametal Inc. (NYSE:KMT) VP John Wayne Witt sold 1,765 shares of the company’s stock in a transaction dated 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 directly owns 1,642 shares of the company’s stock, valued at $48,192.70. This represents a 51.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Kennametal Stock Up 1.0 %

KMT traded up $0.28 during mid-day trading on Monday, reaching $29.40. 799,455 shares of the stock were exchanged, compared to its average volume of 719,060. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.16 and a current ratio of 2.52. The stock has a market capitalization of $2.29 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64. Kennametal Inc. has a 1 year low of $22.50 and a 1 year high of $32.18. The company has a 50 day moving average price of $26.49 and a two-hundred day moving average price of $25.36.

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

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Tuesday, November 12th. Kennametal’s payout ratio is currently 62.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KMT. O Shaughnessy Asset Management LLC bought a new stake in Kennametal during the 1st quarter worth approximately $228,000. CANADA LIFE ASSURANCE Co boosted its stake in Kennametal by 5.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 67,843 shares of the industrial products company’s stock valued at $1,692,000 after buying an additional 3,261 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Kennametal by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,385 shares of the industrial products company’s stock worth $1,058,000 after acquiring an additional 2,519 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Kennametal in the 2nd quarter valued at about $482,000. Finally, CWM LLC boosted its position in shares of Kennametal by 46.7% during the 2nd quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 970 shares during the last quarter.

Wall Street Analyst Weigh In

KMT has been the subject of a number of analyst reports. Loop Capital lifted their price objective on shares of Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, November 19th. Barclays lifted their price objective on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. StockNews.com cut shares of Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company has a consensus 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.