Insider Selling: Kennametal Inc. (NYSE:KMT) VP Sells 20,470 Shares of Stock

Kennametal Inc. (NYSE:KMT - Get Free Report) VP Franklin Cardenas sold 20,470 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $28.24, for a total transaction of $578,072.80. Following the transaction, the vice president now owns 39,581 shares in the company, valued at approximately $1,117,767.44. The trade was a 34.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kennametal Stock Performance

KMT traded down $0.62 during trading on Friday, reaching $27.26. 843,806 shares of the company's stock were exchanged, compared to its average volume of 814,160. 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 has a market capitalization of $2.12 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 2.38 and a beta of 1.65. The company's fifty day simple moving average is $27.01 and its 200-day simple moving average is $25.53.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The business had revenue of $481.90 million for the quarter, compared to analysts' expectations of $485.26 million. Kennametal had a net margin of 4.98% and a return on equity of 8.35%. The business's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. As a group, research analysts predict that Kennametal Inc. will post 1.45 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.20 per share. 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%.

Institutional Investors Weigh In On Kennametal

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 valued at $162,105,000 after acquiring an additional 1,567,867 shares during the period. Burgundy Asset Management Ltd. grew its stake in Kennametal by 1.4% in the 2nd 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 period. Dimensional Fund Advisors LP grew its stake in Kennametal by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,683,485 shares of the industrial products company's stock valued at $110,248,000 after acquiring an additional 100,905 shares during the period. Victory Capital Management Inc. grew its stake in Kennametal by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,298,229 shares of the industrial products company's stock valued at $77,640,000 after acquiring an additional 50,622 shares during the period. Finally, Brandes Investment Partners LP grew its stake in 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 valued at $54,798,000 after acquiring an additional 606,477 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KMT shares. Loop Capital increased their target price on shares of Kennametal from $24.00 to $26.00 and gave the stock a "hold" rating in a report on Tuesday, November 19th. StockNews.com lowered shares of Kennametal from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Barclays increased their price target on shares of Kennametal from $24.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Bank of America lowered shares of Kennametal from a "neutral" rating to an "underperform" rating and set a $26.00 price objective for the company. in a research report on Friday, October 18th. Finally, Jefferies Financial Group lowered shares of Kennametal from a "buy" rating to a "hold" rating and decreased their price objective for the company from $40.00 to $32.00 in a research report on Friday. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, Kennametal has a consensus rating of "Hold" and a consensus target price of $26.17.

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.