Algert Global LLC raised its position in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 204.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 631,076 shares of the industrial products company's stock after purchasing an additional 424,046 shares during the quarter. Algert Global LLC owned 0.83% of Kennametal worth $22,119,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Kennametal in the 2nd quarter worth about $440,446,000. Dimensional Fund Advisors LP boosted its position in Kennametal by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,750,538 shares of the industrial products company's stock worth $134,964,000 after acquiring an additional 96,888 shares during the period. State Street Corp grew its stake in Kennametal by 0.3% during the 4th quarter. State Street Corp now owns 2,899,770 shares of the industrial products company's stock valued at $82,382,000 after acquiring an additional 9,963 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Kennametal by 15.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,298,349 shares of the industrial products company's stock valued at $83,039,000 after purchasing an additional 307,209 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in shares of Kennametal in the second quarter worth approximately $69,614,000.
Insider Transactions at Kennametal
In other Kennametal news, Director Sagar A. Patel sold 29,499 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $33.50, for a total transaction of $988,216.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Carlonda R. Reilly sold 12,013 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $33.12, for a total value of $397,870.56. Following the completion of the sale, the vice president directly owned 25,143 shares in the company, valued at approximately $832,736.16. This represents a 32.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 47,000 shares of company stock worth $1,583,326. 1.43% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
KMT has been the subject of several research reports. Barclays cut shares of Kennametal from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $40.00 to $33.00 in a report on Wednesday, May 27th. Zacks Research downgraded shares of Kennametal from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Morgan Stanley lowered shares of Kennametal from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $31.00 to $27.00 in a research note on Monday, August 10th. Jefferies Financial Group cut shares of Kennametal from a "buy" rating to a "hold" rating and set a $47.50 price target on the stock. in a report on Thursday, May 7th. Finally, UBS Group dropped their price target on shares of Kennametal from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $34.07.
Check Out Our Latest Research Report on Kennametal
Kennametal Price Performance
NYSE KMT opened at $29.30 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 2.62 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $2.23 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 0.29 and a beta of 1.36. The company has a 50 day moving average price of $33.73 and a two-hundred day moving average price of $36.08. Kennametal Inc. has a 12-month low of $20.35 and a 12-month high of $43.81.
Kennametal (NYSE:KMT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $2.96 EPS for the quarter, topping 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 company had revenue of $736.61 million for the quarter, compared to analyst estimates of $725.74 million. During the same quarter in the prior year, the business posted $0.34 EPS. Kennametal's quarterly revenue 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. As a group, equities analysts predict that Kennametal Inc. will post 4.82 earnings per share for the current fiscal year.
Kennametal Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.7%. Kennametal's dividend payout ratio (DPR) is currently 18.18%.
Kennametal Company Profile
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Free Report)
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.
Further Reading
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