Kennametal (NYSE:KMT) Stock: Insider Sanjay Chowbey Buys 7,000 Shares

Key Points

• CEO Sanjay Chowbey bought 7,000 Kennametal shares at an average $23.62 each, spending about $165,340 and increasing his direct holdings to 280,957 shares.
• Kennametal reported quarterly EPS of $3.48, beating the $2.65 consensus estimate, while revenue rose 54.3% year over year to $768.19 million—slightly below expectations.
• Shares traded at $23.14, near their 52-week low of $22.65. Analysts’ average rating was “Reduce,” with an average price target of $33.07.

Kennametal Inc. (NYSE:KMT - Get Free Report) CEO Sanjay Chowbey acquired 7,000 shares of the stock in a transaction on Thursday, November 5th. The shares were purchased at an average price of $23.62 per share, for a total transaction of $165,340.00. Following the transaction, the chief executive officer directly owned 280,957 shares in the company, valued at approximately $6,636,204.34. This trade represents a 2.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Sanjay Chowbey also recently made the following trade(s):

• On Thursday, September 10th, Sanjay Chowbey bought 7,000 shares of Kennametal stock. The stock was acquired at an average cost of $29.10 per share, with a total value of $203,700.00.

Kennametal Stock Performance

Shares of KMT stock traded down $0.08 on Friday, hitting $23.14. The company's stock had a trading volume of 2,316,370 shares, compared to its average volume of 1,426,016. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.98 and a current ratio of 3.45. The stock's 50 day moving average is $30.24 and its 200-day moving average is $34.47. 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 $1.77 billion, a PE ratio of 3.04, a PEG ratio of 0.24 and a beta of 1.30.

Kennametal (NYSE:KMT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.83. The business had revenue of $768.19 million during the quarter, compared to analysts' expectations of $770.36 million. Kennametal had a net margin of 22.49% and a return on equity of 38.40%. The business's revenue was up 54.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS. Equities research analysts expect that Kennametal Inc. will post 5.18 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, November 9th. Kennametal's payout ratio is presently 18.18%.

Institutional Trading of Kennametal

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Kennametal during the second quarter worth $440,446,000. William Blair Investment Management LLC bought a new position in shares of Kennametal in the 2nd quarter valued at $69,614,000. Medina Value Partners LLC bought a new position in shares of Kennametal in the 2nd quarter valued at $43,007,296. NFJ Investment Group LLC acquired a new stake in shares of Kennametal during the 2nd quarter valued at $36,202,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Kennametal during the 2nd quarter valued at $33,949,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KMT shares. Morgan Stanley downgraded Kennametal from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $31.00 to $27.00 in a research report on Monday, August 10th. JPMorgan Chase & Co. dropped their price objective on Kennametal from $30.00 to $27.00 and set an "underweight" rating for the company in a report on Thursday. UBS Group reduced their target price on Kennametal from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Weiss Ratings lowered Kennametal from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. Finally, Zacks Research cut Kennametal from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 14th. Five research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Kennametal currently has an average rating of "Reduce" and an average price target of $33.07.

About Kennametal

Kennametal Inc NYSE: KMT is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.

The company's offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.

Founded in 1938 by Philip M.

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