Kennametal (NYSE:KMT) Price Target Raised to $25.00

Kennametal (NYSE:KMT) had its price target upped by JPMorgan Chase & Co. from $22.00 to $25.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. UBS Group raised shares of Kennametal from a “sell” rating to a “neutral” rating and boosted their price target for the company from $19.00 to $21.00 in a research report on Friday, August 15th. Zacks Research raised Kennametal from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Barclays raised their price target on Kennametal from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kennametal in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Kennametal presently has an average rating of “Reduce” and an average price target of $24.67.

Kennametal Stock Up 3.3%

Shares of NYSE KMT traded up $0.86 during midday trading on Friday, hitting $27.12. 1,010,031 shares of the company’s stock were exchanged, compared to its average volume of 1,032,589. The firm’s fifty day simple moving average is $21.86 and its 200-day simple moving average is $22.11. The company has a market cap of $2.06 billion, a PE ratio of 22.60, a P/E/G ratio of 3.83 and a beta of 1.50. Kennametal has a twelve month low of $17.30 and a twelve month high of $30.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.46 and a quick ratio of 1.19.

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

Kennametal Dividend Announcement

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

Hedge Funds Weigh In On Kennametal

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new position in shares of Kennametal during the 2nd quarter worth approximately $27,000. Hantz Financial Services Inc. grew its position in Kennametal by 350.2% during the third quarter. Hantz Financial Services Inc. now owns 1,373 shares of the industrial products company’s stock worth $29,000 after buying an additional 1,068 shares during the period. Headlands Technologies LLC increased its holdings in Kennametal by 80.7% in 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 in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Kennametal by 116.2% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 1,600 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 860 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Kennametal by 93.4% during the 1st quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 1,036 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.