John Wayne Witt Sells 579 Shares of Kennametal Inc. (NYSE:KMT) Stock

Kennametal Inc. (NYSE:KMT) VP John Wayne Witt sold 579 shares of Kennametal stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $24.37, for a total value of $14,110.23. Following the completion of the transaction, the vice president now owns 764 shares of the company’s stock, valued at $18,618.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kennametal Price Performance

KMT stock opened at $23.77 on Friday. The firm has a 50 day simple moving average of $24.81 and a two-hundred day simple moving average of $24.77. The stock has a market cap of $1.87 billion, a PE ratio of 17.61, a P/E/G ratio of 2.40 and a beta of 1.72. Kennametal Inc. has a one year low of $22.08 and a one year high of $30.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.42 and a quick ratio of 1.09.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). Kennametal had a return on equity of 9.35% and a net margin of 5.29%. The company had revenue of $515.80 million during the quarter, compared to analysts’ expectations of $518.50 million. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. On average, analysts predict that Kennametal Inc. will post 1.47 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.37%. Kennametal’s payout ratio is 59.26%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in Kennametal by 188.0% in the 4th quarter. Hsbc Holdings PLC now owns 84,070 shares of the industrial products company’s stock worth $2,167,000 after purchasing an additional 54,882 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Kennametal during the fourth quarter valued at about $1,026,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Kennametal in the third quarter worth about $517,000. GAMMA Investing LLC bought a new position in Kennametal during the 4th quarter worth approximately $48,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Kennametal in the 3rd quarter worth approximately $62,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on KMT shares. StockNews.com raised Kennametal from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Loop Capital boosted their price objective on shares of Kennametal from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Thursday, May 23rd. Finally, Barclays increased their target price on shares of Kennametal from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.17.

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.