The VP of Kennametal (NYSE: KMT) is Buying Shares

By Carrie Williams

Today, the VP of Kennametal (KMTResearch Report), Judith Bacchus, bought shares of KMT for $115.3K.

Following this transaction Judith Bacchus’ holding in the company was increased by 11.06% to a total of $1.04 million. This is Bacchus’ first Buy trade following 4 Sell transactions.

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Based on Kennametal’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $485 million and quarterly net profit of $21.62 million. In comparison, last year the company earned revenue of $483 million and had a net profit of $2.92 million. The company has a one-year high of $43.04 and a one-year low of $25.26. KMT’s market cap is $3.02 billion and the company has a P/E ratio of 302.10.

Based on 3 analyst ratings, the analyst consensus is Hold with an average price target of $37.67, reflecting a -1.6% downside.

The insider sentiment on Kennametal has been positive according to 58 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Judith Bacchus’ trades have generated a 2.9% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Kennametal, Inc. engages in the development and application of tungsten carbides, ceramics, super-hard materials, and solutions used in metal cutting and extreme wear applications. It operates through the following segments: Industrial, Widia, and Infrastructure. The Industrial segment develops and manufactures tooling and metalworking products and services. The Widia segment offers standard and custom metal cutting solutions to general engineering, aerospace, energy, and transportation customers. The Infrastructure segment produces engineered tungsten carbide and ceramic components, earth-cutting tools, and metallurgical powders. The company was founded by Philip M. McKenna in 1938 and is headquartered in Pittsburgh, PA.