Kennametal Inc. (NYSE:KMT) Director Cindy L. Davis Sells 4,644 Shares

Kennametal Inc. (NYSE:KMT) Director Cindy L. Davis sold 4,644 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $34.15, for a total value of $158,592.60. Following the completion of the transaction, the director now directly owns 11,529 shares of the company’s stock, valued at $393,715.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

KMT stock opened at $32.70 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.58 and a quick ratio of 1.34. The stock has a market capitalization of $2.76 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.37 and a beta of 2.27. The business has a 50-day moving average of $30.80 and a 200-day moving average of $34.78. Kennametal Inc. has a fifty-two week low of $27.49 and a fifty-two week high of $45.10.

Kennametal (NYSE:KMT) last posted its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Kennametal had a return on equity of 18.97% and a net margin of 10.19%. The firm had revenue of $603.95 million for the quarter, compared to analyst estimates of $643.95 million. During the same period in the prior year, the company earned $0.87 earnings per share. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts expect that Kennametal Inc. will post 2.94 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.80 annualized dividend and a yield of 2.45%. Kennametal’s dividend payout ratio (DPR) is presently 26.49%.

KMT has been the subject of several recent research reports. UBS Group reduced their price objective on Kennametal from $35.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday, August 21st. BMO Capital Markets reduced their price objective on Kennametal from $37.00 to $30.50 and set a “market perform” rating for the company in a research report on Wednesday, August 21st. TheStreet cut Kennametal from a “b-” rating to a “c+” rating in a research report on Tuesday, August 27th. Bank of America reduced their price objective on Kennametal from $30.00 to $27.00 and set an “underperform” rating for the company in a research report on Tuesday, August 6th. Finally, Goldman Sachs Group cut Kennametal from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $43.00 to $30.00 in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $35.93.

A number of hedge funds and other institutional investors have recently modified their holdings of KMT. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Kennametal by 10.3% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 291,732 shares of the industrial products company’s stock worth $10,791,000 after purchasing an additional 27,159 shares during the period. BlackRock Inc. increased its stake in shares of Kennametal by 1.5% during the second quarter. BlackRock Inc. now owns 9,669,598 shares of the industrial products company’s stock worth $357,679,000 after purchasing an additional 147,035 shares during the period. California Public Employees Retirement System increased its stake in shares of Kennametal by 7.6% during the second quarter. California Public Employees Retirement System now owns 160,918 shares of the industrial products company’s stock worth $5,952,000 after purchasing an additional 11,348 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Kennametal by 752.3% during the second quarter. Nuveen Asset Management LLC now owns 680,895 shares of the industrial products company’s stock worth $25,187,000 after purchasing an additional 601,004 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Kennametal by 322.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 39,968 shares of the industrial products company’s stock worth $1,479,000 after purchasing an additional 30,504 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Kennametal Company Profile

Kennametal Inc develops and applies tungsten carbides, ceramics, super-hard materials, and solutions for use in metal cutting and mission-critical wear applications to combat extreme conditions related with wear fatigue, corrosion, and high temperatures worldwide. The company operates through three segments: Industrial, Widia, and Infrastructure.

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