Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey Purchases 10,000 Shares

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey bought 10,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were acquired at an average price of $21.75 per share, for a total transaction of $217,500.00. Following the completion of the acquisition, the chief executive officer now owns 77,595 shares in the company, valued at $1,687,691.25. This represents a 14.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Kennametal Stock Up 3.1 %

Kennametal stock traded up $0.66 during midday trading on Wednesday, reaching $22.19. The company’s stock had a trading volume of 908,354 shares, compared to its average volume of 986,385. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.53 and a quick ratio of 1.16. The stock has a market capitalization of $1.72 billion, a P/E ratio of 18.20, a PEG ratio of 2.57 and a beta of 1.66. The stock’s 50-day simple moving average is $24.56 and its 200-day simple moving average is $25.56. Kennametal Inc. has a 52-week low of $20.50 and a 52-week high of $32.18.

Kennametal (NYSE:KMT) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kennametal had a net margin of 4.76% and a return on equity of 8.12%. On average, sell-side analysts expect that Kennametal Inc. will post 1.18 EPS for the current year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 dividend on an annualized basis and a yield of 3.61%. Kennametal’s dividend payout ratio is currently 65.57%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of Kennametal from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $32.00 in a research note on Friday, December 6th. Barclays reduced their price target on Kennametal from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley dropped their price objective on Kennametal from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Loop Capital boosted 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. Finally, StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.60.

Institutional Trading of Kennametal

Several large investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in Kennametal during the third quarter worth $30,000. Blue Trust Inc. lifted its position in shares of Kennametal by 120.9% in the fourth quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 716 shares in the last quarter. GAMMA Investing LLC boosted its stake in Kennametal by 45.9% during the 4th quarter. GAMMA Investing LLC now owns 1,458 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 459 shares during the last quarter. Signaturefd LLC grew its stake in Kennametal by 98.7% during the 3rd quarter. Signaturefd LLC now owns 2,029 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,008 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Kennametal by 50.3% in the fourth quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 1,122 shares during 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.