Kennametal (NYSE:KMT) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Kennametal (NYSE:KMT) from a hold rating to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently commented on the stock. UBS Group upped their price target on shares of Kennametal from $21.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Kennametal from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kennametal in a research note on Wednesday, October 8th. Wall Street Zen raised Kennametal from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Barclays increased their price target on Kennametal from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Kennametal has an average rating of “Hold” and a consensus price target of $25.83.

Kennametal Trading Down 2.4%

Shares of KMT traded down $0.66 during mid-day trading on Wednesday, reaching $26.94. 742,945 shares of the company were exchanged, compared to its average volume of 1,029,963. The business has a 50 day simple moving average of $22.34 and a two-hundred day simple moving average of $22.30. Kennametal has a 52 week low of $17.30 and a 52 week high of $29.84. The stock has a market capitalization of $2.05 billion, a PE ratio of 22.45, a PEG ratio of 3.83 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.19 and a current ratio of 2.46.

Kennametal (NYSE:KMT) last released its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $497.97 million during the quarter, compared to analyst estimates of $477.68 million. During the same quarter last year, the business earned $0.29 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Kennametal has set its FY 2026 guidance at 1.350-1.650 EPS. On average, analysts predict that Kennametal will post 1.17 earnings per share for the current fiscal year.

Kennametal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, November 10th. This represents a $0.80 annualized dividend and a yield of 3.0%. Kennametal’s dividend payout ratio is presently 65.57%.

Institutional Investors Weigh In On Kennametal

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in Kennametal by 21.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,537 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 446 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Kennametal by 8.1% in the third quarter. PNC Financial Services Group Inc. now owns 6,159 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 461 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of Kennametal by 80.7% during the second quarter. Headlands Technologies LLC now owns 1,527 shares of the industrial products company’s stock valued at $35,000 after buying an additional 682 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Kennametal by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,895 shares of the industrial products company’s stock valued at $801,000 after buying an additional 745 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Kennametal by 3.4% during the 3rd quarter. Amalgamated Bank now owns 22,625 shares of the industrial products company’s stock valued at $474,000 after acquiring an additional 751 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.