Deprince Race & Zollo Inc. Sells 853,428 Shares of Kennametal Inc. $KMT

Key Points

• Deprince Race & Zollo Inc. cut its Kennametal stake by 63.5% in the first quarter, selling 853,428 shares and leaving it with 490,023 shares worth about $17.7 million.
• Insiders also sold shares: Director Sagar A. Patel and VP Judith L. Bacchus both reduced their holdings, while insiders sold 47,000 shares total over the last three months.
• Kennametal’s latest results were solid: the company beat earnings and revenue estimates for the quarter, reported 21.8% revenue growth year over year, and maintained a quarterly dividend of $0.20 per share.

Deprince Race & Zollo Inc. lessened its holdings in shares of Kennametal Inc. (NYSE:KMT - Free Report) by 63.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 490,023 shares of the industrial products company's stock after selling 853,428 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 0.64% of Kennametal worth $17,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new position in Kennametal in the 4th quarter worth $28,000. Rockefeller Capital Management L.P. grew its holdings in Kennametal by 3,600.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 999 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 972 shares during the period. Danske Bank A S bought a new stake in Kennametal during the fourth quarter valued at about $31,000. Headlands Technologies LLC grew its holdings in Kennametal by 80.7% during the second quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 682 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Kennametal by 142.3% in the second quarter. Smartleaf Asset Management LLC now owns 2,091 shares of the industrial products company's stock worth $48,000 after buying an additional 1,228 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Sagar A. Patel sold 29,499 shares of the business's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $33.50, for a total value of $988,216.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Judith L. Bacchus sold 5,488 shares of the company's stock in a transaction dated 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 owned 4,554 shares in the company, valued at $163,670.76. This represents a 54.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 47,000 shares of company stock valued at $1,583,326 in the last three months. Corporate insiders own 1.43% of the company's stock.

Kennametal Stock Down 0.4%

KMT opened at $33.48 on Friday. The firm has a 50-day simple moving average of $35.81 and a two-hundred day simple moving average of $35.63. Kennametal Inc. has a 52 week low of $17.62 and a 52 week high of $43.81. The company has a market capitalization of $2.55 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 0.21 and a beta of 1.36. The company has a quick ratio of 0.99, a current ratio of 2.38 and a debt-to-equity ratio of 0.43.

Kennametal (NYSE:KMT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.09. The business had revenue of $592.59 million for the quarter, compared to the consensus estimate of $568.03 million. Kennametal had a return on equity of 11.02% and a net margin of 6.41%.The company's revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. Kennametal has set its FY 2026 guidance at 3.750-4.000 EPS. Analysts forecast that Kennametal Inc. will post 3.23 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Kennametal's dividend payout ratio (DPR) is presently 45.20%.

Wall Street Analyst Weigh In

KMT has been the subject of a number of recent research reports. DA Davidson initiated coverage on Kennametal in a research note on Tuesday, June 16th. They set a "neutral" rating and a $34.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Kennametal from $37.00 to $40.00 and gave the stock an "underweight" rating in a research note on Thursday, May 7th. Zacks Research downgraded shares of Kennametal from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Weiss Ratings lowered shares of Kennametal from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group cut shares of Kennametal from a "buy" rating to a "hold" rating and set a $47.50 price objective for the company. in a research note on Thursday, May 7th. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Kennametal currently has an average rating of "Reduce" and an average target price of $37.36.

Kennametal Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.