Kennametal (NYSE: KMT) NewsBite - KMT Hits 52-Week High

Kennametal (NYSE: KMT) hit a new 52-Week high of $26.16 so far today. Currently the stock is up $2.11 (9.27%) to $24.86 on 1,608,496 shares traded. Today's high is up $12.04 from a 52-Week Low of $12.82. Kennametal stock has been showing support around $21.77 and resistance in the $24.47 range. Technical indicators for the stock are neutral and S&P gives KMT a neutral 3 STARS (out of 5) hold ranking. The stock rose to a new 52 week high today after the company posted better than expected third quarter results. The company had a 4 penny loss, which was better than the 15 cent loss that analysts were expecting to see. If you are looking for a hedged play on KMT the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 22.50 range.

ABR-Seven Summits Strategic Investments NewsBite Goto www.iotogo.com/18w1 for our free report titled, The 18 Ways To Know When It's Time To Dump A Stock

Related terms: nyse, S&P