Kennametal (NYSE:KMT) CFO Patrick Watson Buys 2,000 Shares of Stock

Kennametal Inc. (NYSE:KMT) CFO Patrick Watson purchased 2,000 shares of the stock in a transaction dated Friday, November 6th. The stock was purchased at an average price of $23.50 per share, with a total value of $47,000.00. Following the completion of the acquisition, the chief financial officer directly owned 98,523 shares in the company, valued at approximately $2,315,290.50. The trade was a 2.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kennametal Stock Performance

Kennametal stock opened at $24.27 on Tuesday. The company has a market cap of $1.85 billion, a PE ratio of 3.20, a P/E/G ratio of 0.24 and a beta of 1.30. The company has a fifty day moving average price of $30.00 and a two-hundred day moving average price of $34.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.45 and a quick ratio of 0.98. Kennametal Inc. has a 12 month low of $22.65 and a 12 month high of $43.81.

Kennametal (NYSE:KMT) last released its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.83. The firm had revenue of $768.19 million for the quarter, compared to analyst estimates of $770.36 million. Kennametal had a net margin of 22.49% and a return on equity of 38.40%. Kennametal’s quarterly revenue was up 54.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. Research analysts expect that Kennametal Inc. will post 5.18 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 9th. Kennametal’s dividend payout ratio (DPR) is 10.55%.

Institutional Investors Weigh In On Kennametal

Several large investors have recently modified their holdings of KMT. Virtus Advisers LLC grew its holdings in shares of Kennametal by 16.1% during the third quarter. Virtus Advisers LLC now owns 22,501 shares of the industrial products company’s stock valued at $692,000 after buying an additional 3,126 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Kennametal by 53.6% during the third quarter. Maryland State Retirement & Pension System now owns 17,099 shares of the industrial products company’s stock valued at $526,000 after buying an additional 5,970 shares during the period. Fulcrum Asset Management LLP raised its position in Kennametal by 3,904.0% during the third quarter. Fulcrum Asset Management LLP now owns 6,006 shares of the industrial products company’s stock valued at $186,000 after buying an additional 5,856 shares during the period. M Holdings Securities Inc. purchased a new stake in Kennametal in the 3rd quarter worth about $214,000. Finally, Parallel Advisors LLC lifted its stake in Kennametal by 235.8% in the 3rd quarter. Parallel Advisors LLC now owns 5,581 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 3,919 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently commented on KMT shares. DA Davidson lowered their target price on Kennametal from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Zacks Research lowered Kennametal from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Morgan Stanley downgraded shares of Kennametal from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $31.00 to $27.00 in a research report on Monday, August 10th. Weiss Ratings lowered shares of Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Finally, UBS Group decreased their price objective on shares of Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Five equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $33.07.

Kennametal Company Profile

Kennametal Inc is an industrial technology company that develops and manufactures metal-cutting tools, tooling systems, and wear-resistant products. Its products use materials such as tungsten carbide and advanced ceramics to help customers machine components and protect equipment used in demanding operating conditions.

The company serves industries including aerospace, transportation, energy, general engineering, and earthworks. Its products and services include cutting tools and related tooling, engineered components, and wear solutions for industrial applications.

Founded in 1938 as McKenna Metals, Kennametal has grown into a global business serving customers across multiple regions.