Kennametal (NYSE:KMT) Stock: Insider Patrick Watson Acquires 2,000 Shares

Kennametal Inc. (NYSE:KMT) CFO Patrick Watson bought 2,000 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was acquired at an average cost of $23.50 per share, for a total transaction of $47,000.00. Following the purchase, the chief financial officer owned 98,523 shares in the company, valued at approximately $2,315,290.50. This trade represents a 2.07% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kennametal Stock Up 5.5%

NYSE KMT traded up $1.26 during trading hours on Monday, hitting $24.27. The company had a trading volume of 1,934,309 shares, compared to its average volume of 1,436,894. Kennametal Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $43.81. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 3.21, a P/E/G ratio of 0.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.45 and a quick ratio of 1.24. The firm’s 50 day moving average is $30.10 and its 200 day moving average is $34.42.

Kennametal (NYSE:KMT) last issued its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $770.36 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 54.3% on a year-over-year basis. Sell-side analysts anticipate that Kennametal Inc. will post 5.18 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business 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. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, November 9th. Kennametal’s dividend payout ratio is currently 10.55%.

Wall Street Analysts Forecast Growth

KMT has been the topic of a number of recent research reports. Weiss Ratings cut shares of Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. DA Davidson dropped their price target on shares of Kennametal from $34.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 11th. Zacks Research lowered shares of Kennametal from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Wall Street Zen cut shares of Kennametal from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley cut shares of Kennametal from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $27.00 in a research report on Monday, August 10th. Five investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Kennametal has a consensus rating of “Reduce” and a consensus price target of $33.07.

Hedge Funds Weigh In On Kennametal

Several institutional investors and hedge funds have recently made changes to their positions in KMT. Allworth Financial LP bought a new stake in shares of Kennametal in the second quarter worth $25,000. Rockefeller Capital Management L.P. boosted its stake in Kennametal by 3,600.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 999 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 972 shares during the last quarter. Nykredit A S bought a new position in Kennametal during the 2nd quarter valued at $37,000. Integrated Wealth Concepts LLC acquired a new position in Kennametal during the 2nd quarter worth $44,000. Finally, Signaturefd LLC grew its holdings in Kennametal by 377.7% during the 3rd quarter. Signaturefd LLC now owns 1,696 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 1,341 shares in the last quarter.

Kennametal Company Profile

Kennametal Inc is an industrial technology company that develops and manufactures metal-cutting tools, tooling systems, and wear-resistant products. Its products use materials such as tungsten carbide and advanced ceramics to help customers machine components and protect equipment used in demanding operating conditions.

The company serves industries including aerospace, transportation, energy, general engineering, and earthworks. Its products and services include cutting tools and related tooling, engineered components, and wear solutions for industrial applications.

Founded in 1938 as McKenna Metals, Kennametal has grown into a global business serving customers across multiple regions.