Barclays Issues Positive Forecast for Kennametal (NYSE:KMT) Stock Price

Kennametal (NYSE:KMT) had its target price raised by Barclays from $22.00 to $25.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other research firms have also issued reports on KMT. Weiss Ratings restated a “hold (c)” rating on shares of Kennametal in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on Kennametal from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Tuesday, October 14th. UBS Group raised shares of Kennametal from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $19.00 to $21.00 in a research note on Friday, August 15th. Finally, Zacks Research upgraded shares of Kennametal from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $24.67.

Kennametal Trading Up 0.9%

NYSE:KMT traded up $0.24 during trading hours on Friday, reaching $26.30. The company’s stock had a trading volume of 970,864 shares, compared to its average volume of 1,032,694. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.19 and a current ratio of 2.46. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 3.83 and a beta of 1.50. The firm has a 50-day simple moving average of $21.86 and a 200-day simple moving average of $22.07. Kennametal has a 1 year low of $17.30 and a 1 year high of $30.36.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.10. Kennametal had a net margin of 4.73% and a return on equity of 8.09%. The business had revenue of $497.97 million during the quarter, compared to analyst estimates of $477.68 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. Research analysts expect that Kennametal will post 1.17 EPS for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, November 10th. Kennametal’s payout ratio is presently 66.67%.

Institutional Investors Weigh In On Kennametal

Several institutional investors and hedge funds have recently modified their holdings of KMT. GSA Capital Partners LLP purchased a new position in shares of Kennametal during the third quarter valued at about $335,000. M&G PLC boosted its position in Kennametal by 16.9% during the 3rd quarter. M&G PLC now owns 394,648 shares of the industrial products company’s stock valued at $8,288,000 after acquiring an additional 57,069 shares in the last quarter. Vanguard Group Inc. boosted its position in Kennametal by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 9,001,984 shares of the industrial products company’s stock valued at $188,412,000 after acquiring an additional 155,566 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Kennametal by 15.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 102,214 shares of the industrial products company’s stock worth $2,139,000 after acquiring an additional 13,706 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Kennametal by 8.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,159 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 461 shares in the last quarter.

About Kennametal

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.