335,634 Shares in Kennametal Inc. $KMT Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management acquired 335,634 Kennametal shares worth approximately $11.8 million, while several other institutions also increased or initiated positions during the second quarter.
• Analyst sentiment remains cautious: five analysts rate the stock Hold and four rate it Sell, producing an average “Reduce” rating and an average price target of $34.07.
• Kennametal exceeded quarterly earnings and revenue expectations, reporting $2.96 in EPS and $736.6 million in revenue, while maintaining a quarterly dividend of $0.20 per share, or an annualized yield of about 2.6%.

Allianz Asset Management GmbH acquired a new stake in shares of Kennametal Inc. (NYSE:KMT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 335,634 shares of the industrial products company's stock, valued at approximately $11,764,000. Allianz Asset Management GmbH owned approximately 0.44% of Kennametal at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KMT. Amundi raised its holdings in shares of Kennametal by 244.7% during the 2nd quarter. Amundi now owns 162,786 shares of the industrial products company's stock worth $5,706,000 after acquiring an additional 115,557 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Kennametal during the second quarter worth about $484,000. California State Teachers Retirement System raised its stake in Kennametal by 3,301.2% during the second quarter. California State Teachers Retirement System now owns 2,927,832 shares of the industrial products company's stock worth $102,621,000 after purchasing an additional 2,841,750 shares during the period. Nykredit A S purchased a new position in Kennametal during the second quarter worth about $37,000. Finally, Hennessy Advisors Inc. acquired a new position in Kennametal in the 2nd quarter valued at about $8,990,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Zacks Research cut shares of Kennametal from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. DA Davidson decreased their price objective on Kennametal from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. Barclays cut Kennametal from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $40.00 to $33.00 in a report on Wednesday, May 27th. UBS Group cut their target price on Kennametal from $39.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, August 10th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kennametal in a research note on Monday, August 17th. Five research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $34.07.

Insider Buying and Selling at Kennametal

In related news, VP Judith Bacchus sold 5,488 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $35.94, for a total transaction of $197,238.72. Following the sale, the vice president directly owned 4,554 shares in the company, valued at approximately $163,670.76. This represents a 54.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.43% of the company's stock.

Kennametal Stock Performance

NYSE:KMT opened at $30.45 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.98 and a current ratio of 2.62. The stock has a market capitalization of $2.32 billion, a P/E ratio of 6.92, a PEG ratio of 0.31 and a beta of 1.34. The company has a 50 day moving average price of $32.44 and a 200 day moving average price of $35.33. Kennametal Inc. has a fifty-two week low of $20.35 and a fifty-two week high of $43.81.

Kennametal (NYSE:KMT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.65. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The firm had revenue of $736.61 million during the quarter, compared to the consensus estimate of $725.74 million. During the same quarter last year, the firm earned $0.34 EPS. The firm's revenue for the quarter was up 42.6% on a year-over-year basis. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. Equities research analysts forecast that Kennametal Inc. will post 4.82 EPS for the current year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.6%. Kennametal's dividend payout ratio is currently 18.18%.

About Kennametal

Kennametal Inc is a global industrial technology company that designs and manufactures advanced materials, tooling systems, and engineered components for a range of demanding applications. Its solutions support precision metalworking, earthmoving, and wear-resistant environments, catering to customers seeking enhanced productivity, longer tool life, and reduced operating costs.

The company's product portfolio spans indexable cutting tools, solid round tools, tool holders, metalworking fluid systems, wear parts, ceramics and composites, and custom-engineered components.

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