Kennametal (NYSE:KMT) Given New $28.00 Price Target at UBS Group

Kennametal (NYSE:KMT) had its price objective boosted by UBS Group from $21.00 to $28.00 in a research report report published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Kennametal in a research report on Wednesday, October 8th. Barclays upped their target price on shares of Kennametal from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Wall Street Zen raised shares of Kennametal from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research upgraded Kennametal from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, JPMorgan Chase & Co. upped their price objective on Kennametal from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Friday, November 7th. One 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.83.

Kennametal Price Performance

Shares of Kennametal stock traded down $0.66 during trading on Thursday, hitting $26.94. 742,945 shares of the company’s stock traded hands, compared to its average volume of 1,029,963. The company has a market cap 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 current ratio of 2.46 and a quick ratio of 1.19. Kennametal has a twelve month low of $17.30 and a twelve month high of $29.84. The firm’s fifty day moving average price is $22.44 and its 200 day moving average price is $22.35.

Kennametal (NYSE:KMT) last issued its earnings results on Wednesday, November 5th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.10. Kennametal had a return on equity of 8.09% and a net margin of 4.73%.The business had revenue of $497.97 million during the quarter, compared to analysts’ expectations of $477.68 million. During the same period in the prior year, the firm posted $0.29 EPS. Kennametal’s quarterly 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. Analysts forecast that Kennametal will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

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

Hedge Funds Weigh In On Kennametal

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in Kennametal during the second quarter worth $27,000. Hantz Financial Services Inc. boosted its position in Kennametal by 350.2% in the third quarter. Hantz Financial Services Inc. now owns 1,373 shares of the industrial products company’s stock valued at $29,000 after buying an additional 1,068 shares in the last quarter. Headlands Technologies LLC increased its holdings 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 worth $35,000 after buying an additional 682 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings 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 in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Kennametal by 93.4% during the first quarter. US Bancorp DE now owns 2,145 shares of the industrial products company’s stock valued at $46,000 after purchasing 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.