Kennametal (NYSE:KMT) CEO Sanjay Chowbey Buys 7,000 Shares of Stock

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey bought 7,000 shares of the stock in a transaction on Thursday, November 5th. The stock was bought at an average price of $23.62 per share, for a total transaction of $165,340.00. Following the completion of the purchase, the chief executive officer directly owned 280,957 shares in the company, valued at approximately $6,636,204.34. The trade was a 2.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sanjay Chowbey also recently made the following trade(s):

• On Thursday, September 10th, Sanjay Chowbey purchased 7,000 shares of Kennametal stock. The shares were bought at an average cost of $29.10 per share, with a total value of $203,700.00.

Kennametal Stock Performance

Shares of Kennametal stock traded down $0.16 on Friday, reaching $23.06. 3,995,096 shares of the stock were exchanged, compared to its average volume of 1,220,359. The firm has a market capitalization of $1.76 billion, a PE ratio of 3.04, a PEG ratio of 0.30 and a beta of 1.30. The business has a fifty day moving average price of $30.10 and a two-hundred day moving average price of $34.42. Kennametal Inc. has a 1-year low of $22.65 and a 1-year high of $43.81. The company has a current ratio of 2.62, a quick ratio of 0.98 and a debt-to-equity ratio of 0.42.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, November 4th. The industrial products company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.83. The firm had revenue of $768.19 million during the quarter, compared to the consensus estimate of $770.36 million. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The firm’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. As a group, research analysts anticipate that Kennametal Inc. will post 5.18 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.80 annualized dividend and a yield of 3.5%. Kennametal’s dividend payout ratio (DPR) is 18.18%.

Analyst Ratings Changes

KMT has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Kennametal from $30.00 to $27.00 and set an “underweight” rating for the company in a research note on Thursday. UBS Group cut their price objective on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. DA Davidson cut their price objective on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Morgan Stanley cut shares of Kennametal from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $27.00 in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $33.07.

Institutional Trading of Kennametal

A number of hedge funds and other institutional investors have recently made changes to their positions in KMT. BlackRock Inc. bought a new position in Kennametal during the 2nd quarter valued at $440,446,000. Arrowstreet Capital Limited Partnership increased its position in shares of Kennametal by 15.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,298,349 shares of the industrial products company’s stock worth $83,039,000 after purchasing an additional 307,209 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Kennametal in the 2nd quarter worth about $69,614,000. Medina Value Partners LLC bought a new stake in shares of Kennametal in the 2nd quarter worth about $43,007,296. Finally, NFJ Investment Group LLC acquired a new stake in shares of Kennametal in the 2nd quarter valued at about $36,202,000.

About Kennametal

Kennametal Inc (NYSE: KMT) is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.

The company’s offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.

Founded in 1938 by Philip M.