LEADERSHIP EXIT
KMKMTKEEP AN EYE
Kennametal Shakes Up Its Top Leadership
Kennametal disclosed a change at the CEO level in a fresh filing, and the stock slipped about 3% on the news. When we looked at 115 similar leadership exits, the stock lagged the market by about 3% over the next three months, and it only beat the market roughly half the time. We're staying neutral for now.
What would change this — A follow-up 8-K or quarterly filing naming a permanent CEO with a clear plan, or a shift in insider buying, would change our read.
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Wall Street leans cautious with several hold-to-underweight ratings, and we're holding neutral alongside them.Full analysis →