Engineers Gate Manager LP Purchases 75,990 Shares of Kennametal Inc. $KMT

Engineers Gate Manager LP lifted its position in shares of Kennametal Inc. (NYSE:KMT) by 166.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,709 shares of the industrial products company’s stock after buying an additional 75,990 shares during the quarter. Engineers Gate Manager LP’s holdings in Kennametal were worth $4,266,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KMT. Allworth Financial LP bought a new position in Kennametal during the second quarter worth about $25,000. Rockefeller Capital Management L.P. boosted its holdings in Kennametal by 3,600.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 999 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 972 shares during the period. Headlands Technologies LLC grew its position in shares of Kennametal by 80.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 682 shares in the last quarter. Nykredit A S bought a new position in shares of Kennametal during the second quarter worth approximately $37,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Kennametal during the second quarter worth approximately $44,000.

Insider Buying and Selling

In other news, VP Judith L. Bacchus sold 9,676 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $30.29, for a total value of $293,086.04. Following the completion of the transaction, the vice president directly owned 15,721 shares in the company, valued at approximately $476,189.09. This represents a 38.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Chowbey acquired 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were purchased at an average cost of $29.10 per share, for a total transaction of $203,700.00. Following the acquisition, the chief executive officer owned 246,839 shares in the company, valued at $7,183,014.90. This represents a 2.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

KMT has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of Kennametal from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $31.00 to $27.00 in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kennametal in a report on Monday, August 17th. UBS Group cut their target price on Kennametal from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, August 10th. DA Davidson reduced their target price on Kennametal from $34.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Finally, Zacks Research cut Kennametal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Five analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Kennametal has an average rating of “Reduce” and a consensus price target of $34.07.

Kennametal Stock Up 1.1%

Shares of NYSE KMT opened at $29.45 on Friday. The company has a current ratio of 2.62, a quick ratio of 0.98 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 0.29 and a beta of 1.34. Kennametal Inc. has a 12 month low of $20.35 and a 12 month high of $43.81. The stock has a 50-day moving average price of $32.19 and a two-hundred day moving average price of $35.15.

Kennametal (NYSE:KMT) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.65. The company had revenue of $736.61 million for the quarter, compared to the consensus estimate of $725.74 million. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The firm’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. 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 forecast that Kennametal Inc. will post 4.82 earnings per share for the current fiscal year.

Kennametal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.80 annualized dividend and a yield of 2.7%. Kennametal’s dividend payout ratio is presently 18.18%.

Kennametal Company Profile

Kennametal Inc (NYSE: KMT) is an industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions for demanding applications. Its products are designed to help customers cut, shape, drill and protect materials used in manufacturing, transportation, energy, infrastructure and other industrial markets.

The company’s offerings include carbide and ceramic cutting tools, indexable inserts, solid carbide tooling, toolholding systems and related metal-cutting products.