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 business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $29.35, for a total transaction of $51,802.75. Following the completion of the transaction, the vice president now directly owns 1,642 shares in the company, valued at $48,192.70. This trade represents a 51.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Kennametal Trading Down 3.1 %

NYSE:KMT opened at $28.50 on Wednesday. The company has a market cap of $2.22 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.45 and a beta of 1.64. Kennametal Inc. has a 1 year low of $22.50 and a 1 year high of $32.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.52 and a quick ratio of 1.16. The stock’s fifty day moving average price is $26.56 and its two-hundred day moving average price is $25.38.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.29 earnings per share for the quarter, topping 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 business had revenue of $481.90 million for the quarter, compared to analyst estimates of $485.26 million. During the same quarter in the prior year, the firm posted $0.41 EPS. Kennametal’s revenue was down 2.2% on a year-over-year basis. As a group, analysts expect that Kennametal Inc. will post 1.45 EPS for the current year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Tuesday, November 12th. Kennametal’s dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Kennametal

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

About Kennametal

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.