Kennametal (NYSE:KMT) Director Sagar Patel Sells 29,499 Shares of Stock

Kennametal Inc. (NYSE:KMT) Director Sagar Patel sold 29,499 shares of the business’s 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Kennametal Stock Up 2.5%

KMT opened at $34.09 on Wednesday. The business has a 50 day moving average price of $36.62 and a 200 day moving average price of $34.75. Kennametal Inc. has a twelve month low of $17.62 and a twelve month 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 firm has a market cap of $2.60 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 0.21 and a beta of 1.37.

Kennametal (NYSE:KMT) last posted its 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 firm had revenue of $592.59 million during the quarter, compared to analyst estimates of $568.03 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Kennametal has set its FY 2026 guidance at 3.750-4.000 EPS. Research analysts forecast that Kennametal Inc. will post 2.99 EPS for the current year.

Kennametal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, May 12th. Kennametal’s payout ratio is 45.20%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KMT shares. Zacks Research lowered Kennametal from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings lowered Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Jefferies Financial Group lowered Kennametal from a “buy” rating to a “hold” rating and set a $47.50 price target for the company. in a report on Thursday, May 7th. Morgan Stanley upped their price target on Kennametal from $29.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Finally, Barclays lowered Kennametal from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $40.00 to $33.00 in a report on Wednesday, May 27th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $35.93.

Institutional Trading of Kennametal

A number of institutional investors and hedge funds have recently modified their holdings of KMT. Royal Bank of Canada increased its position in shares of Kennametal by 17.7% during the first quarter. Royal Bank of Canada now owns 30,474 shares of the industrial products company’s stock valued at $649,000 after purchasing an additional 4,578 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 period. Jane Street Group LLC increased its position in shares of 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 period. Finally, Norges Bank bought a new stake in shares of Kennametal during the second quarter valued at approximately $585,000.

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.