John Wayne Witt Sells 1,765 Shares of Kennametal Inc. (NYSE:KMT) 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 shares were sold at an average price of $29.35, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kennametal Price Performance

Shares of Kennametal stock traded up $0.28 during midday trading on Monday, reaching $29.40. The company had a trading volume of 799,455 shares, compared to its average volume of 719,060. The company has a current ratio of 2.52, a quick ratio of 1.16 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $26.49 and a 200 day simple moving average of $25.36. Kennametal Inc. has a 1-year low of $22.50 and a 1-year high of $32.18. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64.

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

Kennametal Dividend Announcement

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

Institutional Trading of Kennametal

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of Kennametal by 33.5% in the 3rd quarter. Wellington Management Group LLP now owns 6,251,632 shares of the industrial products company’s stock valued at $162,105,000 after buying an additional 1,567,867 shares during the period. Burgundy Asset Management Ltd. grew its position in shares of Kennametal by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,977,697 shares of the industrial products company’s stock valued at $117,175,000 after purchasing an additional 67,327 shares during the period. Dimensional Fund Advisors LP increased its stake in Kennametal by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company’s stock worth $110,248,000 after purchasing an additional 100,905 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Kennametal by 1.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company’s stock worth $77,640,000 after buying an additional 50,622 shares during the period. Finally, Brandes Investment Partners LP lifted its stake in Kennametal by 35.1% in the second quarter. Brandes Investment Partners LP now owns 2,332,993 shares of the industrial products company’s stock valued at $54,798,000 after buying an additional 606,477 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on KMT shares. StockNews.com lowered Kennametal from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America lowered shares of Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a report on Friday, October 18th. Barclays boosted their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Loop Capital raised their price objective on shares of Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, Kennametal currently has a consensus rating of “Hold” and a consensus price target of $25.00.

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.