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

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey bought 10,000 shares of the stock in a transaction on Tuesday, February 11th. The stock was purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the purchase, the chief executive officer now owns 77,595 shares of the company’s stock, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Kennametal Trading Up 3.4 %

Shares of Kennametal stock opened at $22.27 on Thursday. The company’s 50-day moving average price is $24.44 and its 200-day moving average price is $25.54. 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 Inc. has a 12-month low of $20.50 and a 12-month high of $32.18. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 2.57 and a beta of 1.66.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a return on equity of 8.12% and a net margin of 4.76%. On average, equities analysts expect that Kennametal Inc. will post 1.18 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.59%. The ex-dividend date is Tuesday, February 11th. Kennametal’s dividend payout ratio is 65.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KMT shares. Loop Capital lifted their price objective on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Bank of America downgraded shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a research note on Friday, October 18th. Morgan Stanley dropped their price target on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Barclays cut their price objective on shares of Kennametal from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group cut shares of Kennametal from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $32.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.60.

Hedge Funds Weigh In On Kennametal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Kennametal during the 3rd quarter valued at about $30,000. Blue Trust Inc. increased its position in shares of Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 716 shares during the last quarter. GAMMA Investing LLC raised its stake in Kennametal by 45.9% in the fourth 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 lifted its position in Kennametal by 214.2% during the fourth quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 1,444 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Kennametal by 98.7% in the 3rd 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 in 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.