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Shares of Kennametal Inc Has Fallen Below Previous 52-Week Low

By Nick Russo

Kennametal Inc (NYSE:KMT) traded today at a new 52-week low of $28.62. Approximately 149,000 shares have changed hands today, as compared to an average 30-day volume of 953,000 shares.

Kennametal Inc. manufactures, purchases, and distributes tools, tooling systems, and solutions to the metalworking, mining, oil, and energy industries. The Company also manufactures and distributes wear-resistant parts for a wide range of industries. Kennametal operates worldwide.

Kennametal Inc (NYSE:KMT) has potential upside of 70.8% based on a current price of $28.62 and analysts' consensus price target of $48.89. The stock should run into initial resistance at its 50-day moving average (MA) of $33.64 and subsequent resistance at its 200-day MA of $36.19.

In the past 52 weeks, shares of Kennametal Inc have traded between the current low of $28.62 and a high of $45.10 and are now at $28.62. The 200-day and 50-day moving averages have moved 0.22% lower and 0.31% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Kennametal Inc on July 10th, 2019 by issuing a Downtrend alert when the shares were trading at $33.52. Since that call, shares of Kennametal Inc have fallen 12.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows kennametal inc

Ticker(s): KMT