Kennametal Inc. (NYSE:KMT - Get Free Report) CEO Sanjay Chowbey bought 7,000 shares of the firm's stock in a transaction dated Thursday, November 5th. The stock was purchased at an average price of $23.62 per share, with a total value of $165,340.00. Following the transaction, the chief executive officer owned 280,957 shares in the company, valued at approximately $6,636,204.34. This represents a 2.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Sanjay Chowbey also recently made the following trade(s):
- On Thursday, September 10th, Sanjay Chowbey purchased 7,000 shares of Kennametal stock. The shares were purchased at an average cost of $29.10 per share, for a total transaction of $203,700.00.
Kennametal Stock Performance
Shares of KMT stock traded down $0.16 on Friday, hitting $23.06. 3,995,096 shares of the stock traded hands, compared to its average volume of 1,220,359. The company's fifty day moving average is $30.10 and its 200 day moving average is $34.42. Kennametal Inc. has a 1-year low of $22.65 and a 1-year high of $43.81. The company has a market capitalization of $1.76 billion, a PE ratio of 3.04, a PEG ratio of 0.30 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.62 and a quick ratio of 0.98.
Kennametal (NYSE:KMT - Get Free Report) last issued its earnings results on Wednesday, November 4th. The industrial products company reported $3.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.65 by $0.83. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The company had revenue of $768.19 million for the quarter, compared to analysts' expectations of $770.36 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm's revenue was up 54.3% compared to the same quarter last year. On average, equities research analysts predict that Kennametal Inc. will post 5.18 earnings per share for the current fiscal year.
Kennametal Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 9th. Kennametal's dividend payout ratio is currently 18.18%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new position in Kennametal in the 2nd quarter valued at about $25,000. Cetera Investment Advisers lifted its stake in shares of Kennametal by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 8,376 shares of the industrial products company's stock worth $303,000 after acquiring an additional 723 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Kennametal by 3,600.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 999 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 972 shares in the last quarter. Nykredit A S bought a new position in shares of Kennametal in the second quarter valued at approximately $37,000. Finally, Vise Technologies Inc. increased its stake in shares of Kennametal by 13.2% during the third quarter. Vise Technologies Inc. now owns 9,274 shares of the industrial products company's stock valued at $285,000 after acquiring an additional 1,085 shares during the period.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on KMT shares. UBS Group dropped their price objective on shares of Kennametal from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Zacks Research downgraded Kennametal from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 14th. Weiss Ratings lowered Kennametal from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. Wall Street Zen cut Kennametal from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. dropped their price target on Kennametal from $30.00 to $27.00 and set an "underweight" rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $33.07.
Read Our Latest Analysis on Kennametal
About Kennametal
(
Get Free Report)
Kennametal Inc (NYSE: KMT) is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.
The company's offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.
Founded in 1938 by Philip M.
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