Kennametal (KMT) Shares are Up 3.55%

Kennametal (KMT) : Traders are bullish on Kennametal (KMT) as it has outperformed the S&P 500 by a wide margin of 19.69% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.5%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.55% in the last 1 week, and is up 20.92% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 12.86% and the 50-Day Moving Average is 18.92%. Kennametal (NYSE:KMT): On Fridays trading session , Opening price of the stock was $28.81 with an intraday high of $28.92. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $28.42. However, the stock managed to close at $28.55, a loss of 0.90% for the day. On the previous day, the stock had closed at $28.81. The total traded volume of the day was 991,262 shares.


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 93.7% of Kennametal shares. During last six month period, the net percent change held by insiders has seen a change of 236.81%. Also, Equity analysts at the Brokerage firm Stifel Nicolaus downgrades its rating on Kennametal (NYSE:KMT). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on May 4, 2016.

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.

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