Deutsche Bank AG Makes New $9.17 Million Investment in Kennametal Inc. $KMT

Key Points

• Deutsche Bank acquired 261,524 Kennametal shares during the second quarter, establishing a position valued at approximately $9.17 million, or 0.34% of the company.
• Kennametal reported strong quarterly results, with EPS of $2.96 versus the $2.31 consensus and revenue of $736.6 million, up 42.6% year over year. The company also declared a quarterly dividend of $0.20 per share, yielding about 2.7% annually.
• Investor sentiment remains cautious: insiders sold 47,000 shares worth roughly $1.58 million over the past 90 days, while analysts maintain a consensus “Reduce” rating with a $34.07 price target.

Deutsche Bank AG acquired a new position in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 261,524 shares of the industrial products company's stock, valued at approximately $9,166,000. Deutsche Bank AG owned approximately 0.34% of Kennametal at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada increased its position in Kennametal by 17.7% in the first quarter. Royal Bank of Canada now owns 30,474 shares of the industrial products company's stock worth $649,000 after purchasing an additional 4,578 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kennametal by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,307 shares of the industrial products company's stock valued at $986,000 after purchasing an additional 2,013 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Kennametal by 13.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 240,556 shares of the industrial products company's stock valued at $5,124,000 after purchasing an additional 28,020 shares during the last quarter. Jane Street Group LLC lifted its position in Kennametal by 39.3% during the first quarter. Jane Street Group LLC now owns 229,903 shares of the industrial products company's stock valued at $4,897,000 after purchasing an additional 64,907 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Kennametal in the 2nd quarter worth $585,000.

Insiders Place Their Bets

In other news, VP Judith L. Bacchus sold 5,488 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $35.94, for a total transaction of $197,238.72. Following the transaction, the vice president owned 4,554 shares of the company's stock, 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 SEC, which can be accessed through this link. Also, Director Sagar A. Patel sold 29,499 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $33.50, for a total value of $988,216.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,000 shares of company stock valued at $1,583,326 over the last 90 days. Insiders own 1.43% of the company's stock.

Kennametal Trading Up 0.3%

KMT stock opened at $30.04 on Monday. The company has a quick ratio of 0.98, a current ratio of 2.62 and a debt-to-equity ratio of 0.42. Kennametal Inc. has a twelve month low of $20.35 and a twelve month high of $43.81. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 0.29 and a beta of 1.36. The firm's fifty day simple moving average is $33.85 and its two-hundred day simple moving average is $36.12.

Kennametal (NYSE:KMT - Get Free Report) last released its earnings results on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share (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 firm had revenue of $736.61 million during the quarter, compared to analyst estimates of $725.74 million. During the same quarter last year, the business earned $0.34 EPS. The business's 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, analysts anticipate that Kennametal Inc. will post 4.82 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Kennametal's dividend payout ratio is 18.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KMT shares. DA Davidson reduced their target price on shares of Kennametal from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, August 11th. UBS Group lowered their price target on shares of Kennametal from $39.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Jefferies Financial Group cut Kennametal from a "buy" rating to a "hold" rating and set a $47.50 price objective on the stock. in a research note on Thursday, May 7th. Morgan Stanley cut Kennametal from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $31.00 to $27.00 in a research note on Monday, August 10th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Kennametal in a research report on Monday, August 17th. Five research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $34.07.

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.

Want to see what other hedge funds are holding KMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kennametal Inc. (NYSE:KMT - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source