Edgestream Partners L.P. Acquires New Position in Kennametal Inc. $KMT

Key Points

• Edgestream Partners L.P. acquired 81,877 Kennametal shares worth approximately $2.96 million during the first quarter, representing about 0.11% of the company. Several other institutional investors also increased their holdings.
• Kennametal reported quarterly adjusted earnings of $0.77 per share, beating estimates of $0.68, while revenue rose 21.8% year over year to $592.6 million. The company issued fiscal 2026 EPS guidance of $3.75 to $4.00.
• Analyst sentiment has weakened, with multiple firms downgrading the stock; the consensus rating is currently “Reduce” with a target price of $35.79. Kennametal shares recently opened at $34.03, while insiders sold 47,000 shares worth about $1.58 million over the last quarter.

Edgestream Partners L.P. acquired a new position in shares of Kennametal Inc. (NYSE:KMT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 81,877 shares of the industrial products company's stock, valued at approximately $2,958,000. Edgestream Partners L.P. owned approximately 0.11% of Kennametal at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $134,964,000 after acquiring an additional 96,888 shares during the period. State Street Corp grew its holdings in shares of Kennametal by 0.3% in the 4th quarter. State Street Corp now owns 2,899,770 shares of the industrial products company's stock worth $82,382,000 after acquiring an additional 9,963 shares during the period. Arrowstreet Capital Limited Partnership grew 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 worth $83,039,000 after acquiring an additional 307,209 shares during the period. Wellington Management Group LLP increased its stake in Kennametal by 20.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,546,374 shares of the industrial products company's stock valued at $32,366,000 after purchasing an additional 265,664 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in Kennametal by 3.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,343,451 shares of the industrial products company's stock valued at $38,167,000 after purchasing an additional 47,839 shares in the last quarter.

Kennametal Price Performance

KMT stock opened at $34.03 on Friday. Kennametal Inc. has a 1 year low of $17.62 and a 1 year high of $43.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 2.38. The stock's 50 day moving average price is $34.43 and its 200 day moving average price is $36.33. The firm has a market cap of $2.59 billion, a P/E ratio of 19.22, a PEG ratio of 0.46 and a beta of 1.36.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays cut Kennametal from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $40.00 to $33.00 in a report on Wednesday, May 27th. Jefferies Financial Group cut Kennametal from a "buy" rating to a "hold" rating and set a $47.50 price target for the company. in a research report on Thursday, May 7th. Weiss Ratings downgraded Kennametal from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 20th. Zacks Research lowered shares of Kennametal from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, DA Davidson began coverage on shares of Kennametal in a research note on Tuesday, June 16th. They issued a "neutral" rating and a $34.00 price objective on the stock. Six investment 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, the company presently has an average rating of "Reduce" and a consensus target price of $35.79.

Insider Activity at Kennametal

In other Kennametal news, 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 value of $197,238.72. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 47,000 shares of company stock valued at $1,583,326 over the last quarter. Insiders own 1.43% of the company's stock.

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.

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