Franklin Cardenas Sells 20,470 Shares of Kennametal Inc. (NYSE:KMT) Stock

Kennametal Inc. (NYSE:KMT) VP Franklin Cardenas sold 20,470 shares of Kennametal stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $28.24, for a total transaction of $578,072.80. Following the completion of the transaction, the vice president now directly owns 39,581 shares of the company’s stock, valued at approximately $1,117,767.44. This trade represents a 34.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Kennametal Stock Performance

NYSE:KMT opened at $27.26 on Friday. 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 50 day simple moving average of $27.01 and a 200 day simple moving average of $25.53. Kennametal Inc. has a 1-year low of $22.50 and a 1-year high of $32.18. The stock has a market cap of $2.12 billion, a P/E ratio of 21.30, a PEG ratio of 2.38 and a beta of 1.65.

Kennametal (NYSE:KMT) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The company had revenue of $481.90 million during the quarter, compared to analysts’ expectations of $485.26 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. Kennametal’s quarterly revenue was down 2.2% on a year-over-year basis. Research analysts anticipate that Kennametal Inc. will post 1.45 earnings per share for the current year.

Kennametal Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.93%. Kennametal’s payout ratio is 62.50%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $32.00 in a research note on Friday. StockNews.com cut Kennametal from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital boosted their target price on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, November 19th. Finally, Bank of America downgraded Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price target for the company. in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.17.

Institutional Investors Weigh In On Kennametal

A number of large investors have recently added to or reduced their stakes in the stock. Covestor Ltd raised its holdings in Kennametal by 14.4% in the 3rd quarter. Covestor Ltd now owns 3,753 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 472 shares in the last quarter. Quarry LP lifted its position in Kennametal by 198.9% during the second quarter. Quarry LP now owns 1,058 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 704 shares during the period. CWM LLC grew its stake in Kennametal by 46.7% during the second quarter. CWM LLC now owns 3,049 shares of the industrial products company’s stock worth $72,000 after buying an additional 970 shares in the last quarter. Signaturefd LLC raised its position in shares of Kennametal by 98.7% in the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,008 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Kennametal by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,877 shares of the industrial products company’s stock valued at $1,033,000 after buying an additional 1,016 shares in the last quarter.

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.