Kennametal Inc. (NYSE:KMT) gapped up prior to trading on Tuesday . The stock had previously closed at $40.97, but opened at $41.99. Kennametal shares last traded at $39.78, with a volume of 13,412 shares changing hands.
Several research analysts have recently commented on KMT shares. Morgan Stanley raised their price objective on shares of Kennametal from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, April 19th. Barclays upped their price objective on Kennametal from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 5th. Jefferies Financial Group upped their price target on Kennametal from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, January 15th. BMO Capital Markets lifted their price objective on Kennametal from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Wednesday, February 3rd. Finally, UBS Group cut shares of Kennametal from a “buy” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $35.00 in a report on Monday, February 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $36.00.
The company has a debt-to-equity ratio of 0.47, a current ratio of 2.25 and a quick ratio of 1.03. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -99.15, a price-to-earnings-growth ratio of 9.80 and a beta of 2.09. The firm’s 50-day simple moving average is $41.00 and its two-hundred day simple moving average is $37.64.
In other Kennametal news, Director Cindy L. Davis sold 14,000 shares of the company’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $40.50, for a total value of $567,000.00. Following the completion of the transaction, the director now directly owns 28,588 shares of the company’s stock, valued at approximately $1,157,814. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Judith L. Bacchus sold 20,922 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $40.53, for a total value of $847,968.66. Following the sale, the vice president now owns 28,696 shares of the company’s stock, valued at approximately $1,163,048.88. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. CI Investments Inc. bought a new position in Kennametal during the fourth quarter valued at about $28,000. Samalin Investment Counsel LLC purchased a new position in Kennametal in the fourth quarter valued at about $36,000. LPL Financial LLC bought a new position in Kennametal during the fourth quarter valued at approximately $208,000. Zeke Capital Advisors LLC acquired a new stake in shares of Kennametal in the 1st quarter valued at $220,000. Finally, Uncommon Cents Investing LLC acquired a new position in shares of Kennametal during the 4th quarter valued at about $227,000.
About Kennametal (NYSE:KMT)
Kennametal Inc develops and applies 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. It operates through three segments: Industrial, Widia, and Infrastructure.
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