Kennametal Inc. (KMT) Downgraded by BidaskClub
BidaskClub lowered shares of Kennametal Inc. (NYSE:KMT) from a hold rating to a sell rating in a research report report published on Thursday morning.
Several other equities analysts have also commented on the company. Zacks Investment Research lowered Kennametal from a buy rating to a hold rating in a research report on Tuesday, July 4th. BMO Capital Markets increased their price objective on Kennametal from $40.00 to $45.00 and gave the company a market perform rating in a research report on Monday, May 1st. Jefferies Group LLC reiterated a buy rating and set a $50.00 price objective (up from $47.00) on shares of Kennametal in a research report on Saturday, April 29th. Stifel Nicolaus increased their price objective on Kennametal from $38.00 to $44.00 and gave the company a hold rating in a research report on Friday, April 28th. Finally, Barrington Research increased their price objective on Kennametal from $45.00 to $50.00 and gave the company an outperform rating in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Kennametal has an average rating of Hold and a consensus price target of $39.33.
Kennametal (KMT) traded down 0.70% during mid-day trading on Thursday, hitting $37.09. The stock had a trading volume of 549,362 shares. The firm’s market cap is $2.99 billion. The company’s 50 day moving average price is $38.80 and its 200 day moving average price is $38.27. Kennametal has a 52 week low of $24.41 and a 52 week high of $43.09.
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In other news, Director Philip A. Dur sold 7,000 shares of Kennametal stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $40.01, for a total value of $280,070.00. Following the sale, the director now directly owns 22,024 shares in the company, valued at approximately $881,180.24. The sale was disclosed in a filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Kennametal during the fourth quarter worth $25,446,000. Quadrature Capital Ltd purchased a new position in Kennametal during the fourth quarter worth approximately $1,862,000. Teachers Advisors LLC boosted its position in Kennametal by 333.3% in the fourth quarter. Teachers Advisors LLC now owns 606,301 shares of the industrial products company’s stock worth $18,953,000 after buying an additional 466,365 shares during the last quarter. Highbridge Capital Management LLC boosted its position in Kennametal by 79.2% in the fourth quarter. Highbridge Capital Management LLC now owns 100,875 shares of the industrial products company’s stock worth $3,154,000 after buying an additional 44,571 shares during the last quarter. Finally, Sheets Smith Wealth Management purchased a new position in Kennametal during the first quarter worth approximately $294,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.
Kennametal Company Profile
Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.
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