Insiders Buying, Short Interest Falling Kennametal Inc. (NYSE:KMT)


Here is the rundown on market activity for Kennametal Inc. (NYSE:KMT). Charles Michael Jr. Byrnes, VP acquired $62,700 worth of shares at an average price of $33.00 on Fri the 18th. That brings the VP’s holdings to $490,776 per an SEC filing yesterday. President and CEO Christopher Rossi disclosed the purchase of 29,880 shares of (KMT). The shares were bought on August 18th for an average price of $33.44. Rossi now owns $999,187 of the stock per the Form 4 SEC filing.

Director Philip A. Dur sold 7,000 shares at an average price of $40.01 on June 8th. Dur now owns $601,121 of stock as recorded in a recent 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..

Here are a few other firms who have also updated their positions. Dynamic Technology Lab Private Ltd grew its investment by buying 2,046 shares an increase of 21.4% as of 06/30/2017. Dynamic Technology Lab Private Ltd currently owns 11,603 shares with a value of $435,000. The value of the position overall is up by 45.5%. As of quarter end Castleark Management LLC had disposed of a total of 67,427 shares trimming its holdings by 19.8%. The value of the investment in (KMT) went from $13,338,000 to $10,200,000 a change of 23.5% quarter over quarter.

Ameritas Investment Partners, Inc. added to its position by buying 693 shares an increase of 2.3% from 03/31/2017 to 06/30/2017. Ameritas Investment Partners, Inc. now controls 31,157 shares valued at $1,166,000. The total value of its holdings decreased 2.4%. As of the end of the quarter Susquehanna International Group, Llp had sold 31,394 shares trimming its position 53.3%. The value of the total investment in Kennametal Inc. decreased from $2,311,000 to $1,029,000 decreasing 55.5% quarter to quarter.

On August 17 the company was changed to “Overweight” by JP Morgan up from the previous “Underweight” rating. On August 4 the stock rating was upgraded from “Market Perform” to “Outperform” in a report issued by Wells Fargo.

The company is up since yesterday’s close of $33.48. Kennametal Inc. also announced a dividend for shareholders to be paid on Thursday August 31st, 2017. The dividend will be $0.200 per share for the quarter which comes to $0.80 on an annualized basis. The dividend yield will be $2.40. The ex-dividend date has been established as Wednesday the 16th of August 2017.

Shares are trading at $34.99 which is marginally under $37.01, the stock’s 50 day moving average and barely below the 200 day moving average of $38.28. The 50 day moving average moved down $-2.14 whereas the 200 day average was down by -8.91%.

The most current P/E ratio is 57.16 and the market cap of the company is 2.81B. In the latest earnings report the EPS was $0.61 and is expected to be $2.20 for the current year with 80,672,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $0.45 and the next full year EPS is anticipated to be $2.61.