Insider Buying: LAMBERT WILLIAM M, Kennametal Inc. [KMT] Director invested 36,698 shares

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Kennametal Inc. shares valued at $962,475 were purchased by LAMBERT WILLIAM M on May 04. At $26.23 per share, LAMBERT WILLIAM M acquired 36,698 shares. The insider’s holdings grew to 52,360 shares worth approximately $1.1 million following the completion of this transaction.


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Also, ALVARADO JOSEPH purchased 1,000 shares, netting a total of over 29,045 in proceeds. Following the buying of shares at $29.05 each, the insider now holds 9,934 shares.

As published in a research note from UBS on July 08, 2022, Kennametal Inc. [KMT] has been rated down from a Neutral to a Sell and the price target has been revised to $19 from $27. This represents a -10.42% premium over Thursday’s closing price. Analysts at Loop Capital downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early April. As of March 28, 2022, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for KMT. Earlier on October 27, 2021, BofA Securities upgraded its rating. Their new recommendation was “a Neutral” for KMT stock which previously was a “an Underperform”.

Analyzing KMT’s Price Performance

On Thursday, Kennametal Inc. [NYSE: KMT] plunged -3.54% to $20.98. The stock’s lowest price that day was $20.905, but it reached a high of $21.79 in the same session. During the last five days, there has been a drop of approximately -6.67%. Over the course of the year, Kennametal Inc. shares have dropped approximately -41.58%. Shares of the company reached a 52-week high of $38.36 on 01/05/22 and a 52-week low of $20.91 on 09/22/22. A 50-day SMA is recorded $24.78, while a 200-day SMA reached $28.70. Nevertheless, trading volume fell to 1.01 million shares from 0.73 million shares the previous day.

Support And Resistance Levels for Kennametal Inc. (KMT)

According to the 24-hour chart, there is a support level at 20.66, which, if violated, would cause prices to drop to 20.34. In the upper region, resistance lies at 21.55. The next price resistance is at 22.11. RSI (Relative Strength Index) is 31.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.17, which suggests the price will decrease in the coming days. Percent R is at 98.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Kennametal Inc. subject to short interest?

Stocks of Kennametal Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.81 million shares to 4.98 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.17 million shares. A jump of 16.27% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.38 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.38.

Which companies own the most shares of Kennametal Inc. (KMT)?

According to Ariel Investments LLC filings, the company currently owns 10,600,482 shares, which is about 13.03% of the total KMT shares outstanding. The investor’s shares have appreciated by 892,747 from its previous 13-F filing of 9707735.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $210,242,220. The Vanguard Group, Inc. acquire a 1.93% interest valued at $192.2 million while Wellington Management Co. LLP sold a -1,474,719 stake. A total of 736,816 shares of Kennametal Inc. were sold by Burgundy Asset Management Ltd. during the quarter, and 371,293 were bought by Dimensional Fund Advisors LP. In its current portfolio, Fidelity Management & Research Co holds 3,083,689 shares valued at $72.28 million.

In terms of Kennametal Inc. share price expectations, FactSet research, analysts set an average price target of $25.83 in the next 12 months, up nearly 14.94% from the previous closing price of $21.75. Analysts anticipate Kennametal Inc. stock to reach $35.00 by 2022, with the lowest price target being $19.00. In spite of this, 10 analysts ranked Kennametal Inc. stock as a Hold at the end of 2022. On August 30, 2021, Loop Capital assigned a price target of “a Buy” to the stock and initiated coverage with a $48.

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