The stock of Kennametal Inc. (NYSE:KMT) is a huge mover today! About 1.62M shares traded hands or 35.00% up from the average. Kennametal Inc. (NYSE:KMT) has risen 41.92% since April 8, 2016 and is uptrending. It has outperformed by 36.27% the S&P500.
The move comes after 5 months positive chart setup for the $2.97B company. It was reported on Nov, 10 by Barchart.com. We have $41.50 PT which if reached, will make NYSE:KMT worth $653.40M more.
Kennametal Inc. (NYSE:KMT) Ratings Coverage
Out of 8 analysts covering Kennametal Inc. (NYSE:KMT), 2 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 25% are positive. Kennametal Inc. has been the topic of 17 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Thursday, February 4 by Longbow. The stock of Kennametal Inc. (NYSE:KMT) earned “Hold” rating by Stifel Nicolaus on Wednesday, May 4. Bank of America downgraded the shares of KMT in a report on Wednesday, November 4 to “Underperform” rating. The stock has “Neutral” rating given by Bank of America on Friday, October 2. Seaport Global downgraded it to “Neutral” rating and $28 target price in Thursday, August 18 report. The rating was downgraded by Longbow to “Neutral” on Friday, March 18. The rating was maintained by Barrington Research with “Outperform” on Thursday, December 17. Goldman Sachs upgraded Kennametal Inc. (NYSE:KMT) on Monday, October 31 to “Buy” rating. UBS downgraded it to “Sell” rating and $23 target price in Wednesday, October 28 report. Bank of America downgraded the stock to “Neutral” rating in Tuesday, August 11 report.
According to Zacks Investment Research, “Kennametal Inc. is a leading global supplier of tooling, engineered components and advanced materials consumed in production processes. The company improves customers’ competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands. Companies producing everything from airframes to coal, from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains.”
Insitutional Activity: The institutional sentiment decreased to 1.21 in 2016 Q2. Its down 0.20, from 1.41 in 2016Q1. The ratio is negative, as 29 funds sold all Kennametal Inc. shares owned while 66 reduced positions. 28 funds bought stakes while 87 increased positions. They now own 77.21 million shares or 3.37% more from 74.69 million shares in 2016Q1.
Blackrock Gp Ltd last reported 55,342 shares in the company. Glenmede Na has 0% invested in the company for 1,915 shares. The New York-based D E Shaw And has invested 0.02% in Kennametal Inc. (NYSE:KMT). Us Fincl Bank De has 0% invested in the company for 633 shares. New York State Teachers Retirement System last reported 126,198 shares in the company. Fuller & Thaler Asset Mgmt last reported 2.76 million shares in the company. Stevens Lp owns 27,227 shares or 0.02% of their US portfolio. Qci Asset Management Inc Ny has 10 shares for 0% of their US portfolio. Price T Rowe Assocs Md has invested 0% of its portfolio in Kennametal Inc. (NYSE:KMT). Teachers Advsr reported 133,079 shares or 0.01% of all its holdings. Nj State Employees Deferred Compensation Plan has 20,000 shares for 0.09% of their US portfolio. Lombard Odier Asset (Usa) last reported 21,511 shares in the company. Alpha Windward Llc owns 17,737 shares or 0.28% of their US portfolio. Ls Inv Advsr Limited Liability Company has invested 0.01% of its portfolio in Kennametal Inc. (NYSE:KMT). Amp Cap Ltd has 0.04% invested in the company for 266,268 shares.
Insider Transactions: Since June 10, 2016, the stock had 1 buying transaction, and 0 sales for $12,460 net activity. 517 shares with value of $12,460 were bought by Harvey William J. on Friday, June 10.
More recent Kennametal Inc. (NYSE:KMT) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Parker Hannifin, Kennametal and Boeing” on November 04, 2016. Also Prnewswire.com published the news titled: “Kennametal Management to Host Analyst Day on November 3, 2016” on October 26, 2016. Prnewswire.com‘s news article titled: “Kennametal Announces Fiscal 2017 First Quarter Results” with publication date: October 26, 2016 was also an interesting one.
KMT Company Profile
Kennametal Inc. (Kennametal), incorporated on June 25, 1943, is a supplier of tooling, engineered components and materials consumed in production processes. The Firm operates through two divisions: Industrial and Infrastructure. The Firm provides wear-resistant products, application engineering and services backed by material science serving clients 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 activities battling conditions associated with wear fatigue, corrosion and high temperatures.
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