Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey Purchases 10,000 Shares

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey acquired 10,000 shares of Kennametal stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,595 shares in the company, valued at approximately $1,687,691.25. The trade was a 14.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kennametal Trading Up 3.4 %

Shares of KMT opened at $22.27 on Thursday. The stock has a market capitalization of $1.73 billion, a P/E ratio of 18.25, a PEG ratio of 2.57 and a beta of 1.66. Kennametal Inc. has a twelve month low of $20.50 and a twelve month high of $32.18. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $24.44 and a two-hundred day simple moving average of $25.54.

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

Kennametal Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on KMT shares. StockNews.com upgraded shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Barclays reduced their target price on shares of Kennametal from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $32.00 in a research note on Friday, December 6th. Bank of America cut Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective on the stock. in a research note on Friday, October 18th. Finally, Loop Capital boosted their target price on Kennametal from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Kennametal has a consensus rating of “Hold” and an average price target of $27.60.

Hedge Funds Weigh In On Kennametal

Several hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new position in Kennametal during the 2nd quarter valued at $451,000. SG Americas Securities LLC boosted its stake in shares of Kennametal by 74.6% during the 3rd quarter. SG Americas Securities LLC now owns 12,173 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 5,202 shares in the last quarter. CWM LLC increased its position in shares of Kennametal by 40.3% during the third quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock valued at $111,000 after buying an additional 1,230 shares during the period. Inspire Investing LLC raised its stake in Kennametal by 6.4% in the third quarter. Inspire Investing LLC now owns 17,840 shares of the industrial products company’s stock worth $463,000 after buying an additional 1,070 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new stake in Kennametal in the third quarter worth about $204,000.

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.