Amundi Purchases 115,557 Shares of Kennametal Inc. $KMT

Key Points

• Amundi increased its Kennametal position by 244.7% in the second quarter, purchasing 115,557 additional shares and ending with 162,786 shares worth approximately $5.7 million.
• Insider activity was mixed: CEO Sanjay Chowbey bought 7,000 shares, while Vice President Judith L. Bacchus sold 9,676 shares. Corporate insiders own 1.43% of the company.
• Analysts remain cautious, with five Hold ratings and four Sell ratings, an average “Reduce” rating, and a $34.07 price target. Kennametal nevertheless exceeded quarterly earnings and revenue estimates, reporting $2.96 EPS and $736.61 million in revenue.

Amundi lifted its position in Kennametal Inc. (NYSE:KMT - Free Report) by 244.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,786 shares of the industrial products company's stock after purchasing an additional 115,557 shares during the quarter. Amundi owned 0.21% of Kennametal worth $5,706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baron Wealth Management LLC raised its stake in shares of Kennametal by 3.8% during the first quarter. Baron Wealth Management LLC now owns 11,972 shares of the industrial products company's stock worth $433,000 after acquiring an additional 439 shares in the last quarter. ProShare Advisors LLC raised its position in Kennametal by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 14,799 shares of the industrial products company's stock worth $420,000 after purchasing an additional 450 shares during the period. ARK Investment Management LLC lifted its stake in Kennametal by 16.6% in the fourth quarter. ARK Investment Management LLC now owns 3,210 shares of the industrial products company's stock worth $91,000 after purchasing an additional 457 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Kennametal by 21.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,088 shares of the industrial products company's stock worth $88,000 after purchasing an additional 551 shares during the last quarter. Finally, New Age Alpha Advisors LLC boosted its position in Kennametal by 5.4% during the fourth quarter. New Age Alpha Advisors LLC now owns 10,977 shares of the industrial products company's stock valued at $312,000 after buying an additional 567 shares during the period.

Insider Activity at Kennametal

In other news, CEO Sanjay Chowbey purchased 7,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average cost of $29.10 per share, for a total transaction of $203,700.00. Following the completion of the transaction, the chief executive officer directly owned 246,839 shares of the company's stock, valued at $7,183,014.90. This trade represents a 2.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Judith L. Bacchus sold 9,676 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $30.29, for a total value of $293,086.04. Following the completion of the sale, the vice president directly owned 15,721 shares in the company, valued at approximately $476,189.09. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KMT has been the topic of a number of recent research reports. UBS Group reduced their price objective on Kennametal from $39.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. DA Davidson dropped their target price on Kennametal from $34.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Kennametal in a research report on Monday, August 17th. Barclays cut 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 research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. lowered their price objective on Kennametal from $40.00 to $34.00 and set an "underweight" rating for the company in a research report on Monday, July 13th. Five investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $34.07.

Kennametal Price Performance

Shares of KMT stock opened at $29.45 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.98 and a current ratio of 2.62. Kennametal Inc. has a fifty-two week low of $20.35 and a fifty-two week high of $43.81. The firm has a market cap of $2.24 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.29 and a beta of 1.34. The business's 50 day moving average price is $32.19 and its 200-day moving average price is $35.15.

Kennametal (NYSE:KMT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.65. Kennametal had a return on equity of 24.83% and a net margin of 14.53%.The company had revenue of $736.61 million during the quarter, compared to the consensus estimate of $725.74 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. 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. On average, equities research analysts anticipate that Kennametal Inc. will post 4.82 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.80 annualized dividend and a dividend yield of 2.7%. Kennametal's dividend payout ratio is currently 18.18%.

Kennametal Profile

Kennametal Inc NYSE: KMT is an industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions for demanding applications. Its products are designed to help customers cut, shape, drill and protect materials used in manufacturing, transportation, energy, infrastructure and other industrial markets.

The company's offerings include carbide and ceramic cutting tools, indexable inserts, solid carbide tooling, toolholding systems and related metal-cutting products.

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