Insider Buying: Kennametal Inc. (NYSE:KMT) CEO Purchases 10,000 Shares of Stock

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average cost of $21.75 per share, with a total value of $217,500.00. Following the purchase, the chief executive officer now directly owns 77,595 shares in the company, valued at approximately $1,687,691.25. This trade represents a 14.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kennametal Stock Up 0.2 %

Kennametal stock opened at $22.52 on Friday. The company has a market capitalization of $1.74 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.57 and a beta of 1.66. The firm’s fifty day simple moving average is $24.23 and its 200-day simple moving average is $25.49. The company has a current ratio of 2.53, a quick ratio of 1.16 and a debt-to-equity ratio of 0.47. Kennametal Inc. has a 1-year low of $20.50 and a 1-year high of $32.18.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. Sell-side analysts forecast that Kennametal Inc. will post 1.18 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.55%. Kennametal’s dividend payout ratio is currently 65.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KMT shares. Barclays decreased their price objective on shares of Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday. 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 note on Friday, October 18th. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and cut their target price for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. 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 research report on Tuesday, November 19th. Finally, Morgan Stanley cut their target price on shares of Kennametal from $28.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Kennametal currently has an average rating of “Hold” and an average price target of $27.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in Kennametal in the 2nd quarter worth $451,000. SG Americas Securities LLC raised its holdings in Kennametal by 74.6% in the 3rd quarter. SG Americas Securities LLC now owns 12,173 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 5,202 shares during the period. CWM LLC raised its holdings in Kennametal by 40.3% in the 3rd quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 1,230 shares during the period. Inspire Investing LLC raised its holdings in Kennametal by 6.4% in the 3rd quarter. Inspire Investing LLC now owns 17,840 shares of the industrial products company’s stock worth $463,000 after acquiring an additional 1,070 shares during the period. Finally, Inspire Advisors LLC bought a new position in Kennametal in the 3rd quarter worth $204,000.

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.