Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Kennametal Inc. shares valued at $14,111 were sold by Witt John Wayne on Jun 13 ’24. At $24.37 per share, Witt John Wayne sold 579 shares. The insider’s holdings dropped to 764 shares worth approximately $19711.2 following the completion of this transaction.
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Also, Chowbey Sanjay purchased 5,000 shares, netting a total of over 121,403 in proceeds. Following the buying of shares at $24.28 each, the insider now holds 49,270 shares.
Before that, Keating Michelle R had sold 12,000 shares from its account. In a trade valued at $313,140, the Vice President traded Kennametal Inc. shares for $26.09 each. Upon closing the transaction, the insider’s holdings decreased to 12,000 shares, worth approximately $0.85 million.
As published in their initiating research note from Morgan Stanley on January 08, 2024, Kennametal Inc. [KMT] has been an Equal-weight and the price target has been revised to $24. Analysts at UBS downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in early July. As of April 06, 2022, Loop Capital has decreased its “Buy” rating to a “Hold” for KMT. Earlier on March 28, 2022, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for KMT stock which previously was a “a Neutral”.
Analyzing KMT Stock Performance
During the last five days, there has been a surge of approximately 4.33%. Over the course of the year, Kennametal Inc. shares have jumped approximately 0.04%. Shares of the company reached a 52-week high of $26.75 on 07/31/24 and a 52-week low of $22.50 on 07/09/24. A 50-day SMA is recorded $24.94, while a 200-day SMA reached $24.70. Nevertheless, trading volume fell to 1.46 million shares from 0.62 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 25.41, which, if violated, would cause prices to drop to 25.03. In the upper region, resistance lies at 26.39. The next price resistance is at 26.98. RSI (Relative Strength Index) is 61.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.59, which suggests the price will decrease in the coming days. Percent R is at 27.67%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
