Insider Buying: Kennametal Inc. (NYSE:KMT) CEO Purchases $217,500.00 in Stock

Kennametal Inc. (NYSE:KMT) CEO Sanjay Chowbey acquired 10,000 shares of Kennametal stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $21.75 per share, with a total value of $217,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Kennametal Trading Up 0.2 %

Shares of Kennametal stock opened at $22.52 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.66. The business has a fifty day simple moving average of $24.23 and a 200-day simple moving average of $25.49. Kennametal Inc. has a fifty-two week low of $20.50 and a fifty-two 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 earnings per share 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, equities analysts forecast that Kennametal Inc. will post 1.18 EPS for the current fiscal year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.55%. Kennametal’s dividend payout ratio (DPR) is 65.57%.

Institutional Trading of Kennametal

Several institutional investors have recently modified their holdings of KMT. Sanctuary Advisors LLC acquired a new stake in shares of Kennametal in the second quarter valued at $451,000. SG Americas Securities LLC raised its holdings in Kennametal by 74.6% during the 3rd quarter. SG Americas Securities LLC now owns 12,173 shares of the industrial products company’s stock worth $316,000 after buying an additional 5,202 shares during the period. CWM LLC lifted its stake in Kennametal by 40.3% during the third quarter. CWM LLC now owns 4,279 shares of the industrial products company’s stock valued at $111,000 after buying an additional 1,230 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Kennametal by 6.4% in the third quarter. Inspire Investing LLC now owns 17,840 shares of the industrial products company’s stock worth $463,000 after buying an additional 1,070 shares during the period. Finally, Inspire Advisors LLC purchased a new position in shares of Kennametal in the third quarter worth approximately $204,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KMT shares. Bank of America lowered Kennametal from a “neutral” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research report on Friday, October 18th. Loop Capital boosted their price target on Kennametal from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, November 19th. StockNews.com upgraded Kennametal from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Barclays reduced their price target on Kennametal from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $32.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.00.

Kennametal Company Profile

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.