Kennametal (KMT) has been under a strong bear grip, hence the stock is down -7.78% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 6.66% in the past 1 week. The stock has risen by 8.25% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.75% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 4.12% and the 50-Day Moving Average is 0.71%.
Kennametal (NYSE:KMT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.14 and $23.12 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.69. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.61, notching a gain of 2.83% for the day. The total traded volume was 1,479,103 . The stock had closed at $22.96 on the previous day.
The company Insiders own 3% of Kennametal shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 8.55% . Institutional Investors own 93.98% of Kennametal shares. During last six month period, the net percent change held by insiders has seen a change of 41.05%. In a related news, Harvey William J., director of Kennametal Inc, executed a transaction worth $12,460 on June 10, 2016. A total of 517 shares were purchased at an average price of $24.1. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Kennametal Inc. (Kennametal) is a supplier of tooling, engineered components and advanced materials consumed in production processes. The Company manages and reports its business in 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, infrastructure and aerospace. The Company markets its products under the brands, Kennametal and WIDIA. The Companys product offering includes a selection of standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, as well as materials, such as cemented tungsten carbide products, super alloys, coatings and investment castings to address customer demands. It offers these products through a range of channels to meet customer-specified needs.