Kennametal (NYSE:KMT) Stock: Insider Sanjay Chowbey Purchases 7,000 Shares

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey purchased 7,000 shares of Kennametal stock in a transaction dated Thursday, November 5th. The shares were purchased at an average price of $23.62 per share, with a total value of $165,340.00. Following the completion of the transaction, the chief executive officer directly owned 280,957 shares in the company, valued at approximately $6,636,204.34. This represents a 2.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

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

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

Kennametal Trading Down 0.7%

Shares of KMT stock opened at $23.06 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.98 and a current ratio of 3.45. Kennametal Inc. has a 52-week low of $22.65 and a 52-week high of $43.81. The company has a market capitalization of $1.78 billion, a PE ratio of 3.04, a price-to-earnings-growth ratio of 0.21 and a beta of 1.30. The business’s fifty day moving average is $30.10 and its 200 day moving average is $34.42.

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

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. Kennametal’s dividend payout ratio (DPR) is presently 10.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KMT shares. Weiss Ratings lowered Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Wall Street Zen cut shares of Kennametal from a “strong-buy” rating to a “buy” rating in a research report on Saturday. DA Davidson decreased their price objective on shares of 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 downgraded shares of Kennametal from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Finally, Morgan Stanley lowered shares of Kennametal from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $31.00 to $27.00 in a research report on Monday, August 10th. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $33.07.

Institutional Investors Weigh In On Kennametal

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in Kennametal during the second quarter valued at $25,000. Cetera Investment Advisers boosted its position in Kennametal by 9.4% in the first quarter. Cetera Investment Advisers now owns 8,376 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 723 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Kennametal by 3,600.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 999 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 972 shares during the last quarter. Nykredit A S bought a new stake in shares of Kennametal during the 2nd quarter valued at about $37,000. Finally, Vise Technologies Inc. grew its stake in shares of Kennametal by 13.2% during the 3rd quarter. Vise Technologies Inc. now owns 9,274 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 1,085 shares during the period.

Kennametal Company Profile

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.