Kennametal (NYSE:KMT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kennametal (NYSE:KMT) from a buy rating to a strong-buy rating in a report issued on Saturday.

A number of other research analysts have also issued reports on the company. Zacks Research raised Kennametal from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. JPMorgan Chase & Co. lifted their price objective on shares of Kennametal from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, November 7th. Barclays upped their price objective on shares of Kennametal from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. UBS Group lifted their target price on shares of Kennametal from $21.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kennametal in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.83.

Kennametal Trading Down 0.8%

NYSE KMT opened at $27.46 on Friday. The firm’s fifty day moving average is $23.73 and its two-hundred day moving average is $22.86. Kennametal has a one year low of $17.30 and a one year high of $29.15. 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 cap of $2.09 billion, a PE ratio of 22.88, a P/E/G ratio of 3.83 and a beta of 1.50.

Kennametal (NYSE:KMT) last issued 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. The firm had revenue of $497.97 million for the quarter, compared to analysts’ expectations of $477.68 million. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. Analysts expect that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a $0.20 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.9%. Kennametal’s dividend payout ratio (DPR) is currently 65.57%.

Institutional Investors Weigh In On Kennametal

A number of large investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co increased its holdings in Kennametal by 3.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 70,115 shares of the industrial products company’s stock valued at $1,458,000 after acquiring an additional 2,019 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of Kennametal by 139.0% during the 3rd quarter. Verition Fund Management LLC now owns 117,852 shares of the industrial products company’s stock worth $2,467,000 after purchasing an additional 68,551 shares in the last quarter. Jain Global LLC purchased a new position in shares of Kennametal during the 3rd quarter worth approximately $660,000. Bank of America Corp DE raised its position in shares of Kennametal by 92.3% during the 3rd quarter. Bank of America Corp DE now owns 493,283 shares of the industrial products company’s stock worth $10,324,000 after purchasing an additional 236,736 shares during the last quarter. Finally, Creative Planning lifted its stake in Kennametal by 41.6% in the 3rd quarter. Creative Planning now owns 41,968 shares of the industrial products company’s stock valued at $878,000 after buying an additional 12,322 shares in the last quarter.

Kennametal Company Profile

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.