Kennametal Inc. Common Stock (NYSE:KMT) has been the object of insider selling activity recently. Philip A. Dur, Director disclosed the sale of 7,000 shares of (KMT). The shares were sold on June 8th for an average price of $40.01. Dur now owns $601,121 of the stock per the Form 4 SEC filing. Director Steven H. Wunning disclosed the sale of 7,000 shares of KMT stock. The shares were purchased at an average price of $40.41. The Director now owns $1,076,199 of the stock according to the SEC filing.
Timothy R. Mclevish, Director reported the sale of 7,000 shares. The shares were purchased at an average price of $40.00. Mclevish now owns $2,876,178 of the stock per the Form 4 SEC filing.
Kennametal Inc. (Kennametal), launched on June 25, 1943, is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Company provides wear-resistant products, application engineering and services backed by material science serving customers across diverse sectors of industrial production, transportation, earthworks, energy, construction, process industries and aerospace. Kennametal solutions are built across technology platforms, including precision-engineered metalworking tools and components, surface technologies and earth cutting tools that are mission-critical to customer operations battling conditions associated with wear fatigue, corrosion and high temperatures..
These firms have also modified their investment in KMT. As of quarter end Proficio Capital Partners LLC had sold a total of 10 shares trimming its stake by 33.3%. The value of the total investment in Kennametal Inc. Common Stock decreased from $1,000 to $1,000 a change of 0.0% quarter over quarter. Tower Research Capital LLC (trc) divested its ownership by shedding 1,303 shares a decrease of 65.8% in the quarter. Tower Research Capital LLC (trc) now controls 677 shares worth $27,000. The total value of its holdings decreased 56.5%.
As of the end of the quarter Westpac Banking Corp had disposed of 7,000 shares trimming its position 8.3%. The value of the investment in Kennametal Inc. Common Stock went from $2,884,000 to $3,032,000 increasing 5.1% quarter to quarter. Goldman Sachs Group Inc bolstered its holdings by buying 4,632 shares an increase of 16.4%. Goldman Sachs Group Inc controls 32,844 shares with a value of $1,288,000. The value of the position overall is up by 46.0%.
On December 9 the company was changed to a “Underweight” in a report from JP Morgan down from the previous “Neutral” rating. On October 31 the stock rating was upgraded to “Buy” from “Neutral” by analysts at Goldman Sachs.
October 11 investment analysts at Jefferies kept the company rating at “Buy” and raised the price target to $35.00 from $23.00. On August 18, 2016 the stock rating was set at “Neutral” by Seaport Global which is down from the previous “” rating.
On May 4, 2016 the stock rating was rated “Hold” according to a Stifel Nicolaus report which was a cut from the previous “Buy” rating. On March 18 the company was rated “Neutral” according to a Longbow Research report a cut from the previous “Buy” rating.
The company is up by 0.26 percent from yesterday’s close. Kennametal Inc. Common Stock announced a dividend that was paid on Wednesday May 31st, 2017. The dividend payment was $0.200 per share for the quarter which is $0.80 annualized. The dividend yield was $1.91. The ex-dividend date was Friday the 12th of May 2017.
Shares of the company are trading at $42.02 which is a tad above $39.51, the 50 day moving average and which is marginally over the 200 day moving average of $36.97. The 50 day moving average was up $2.51 or +6.34% and the 200 day average went up by +13.67%.
As of the latest earnings report the EPS was $-0.52 and is projected to be $1.59 for the current year with 80,554,000 shares presently outstanding. Next quarter’s EPS is estimated at $0.35 with next year’s EPS anticipated to be $2.20.