Kennametal Inc. $KMT Stock Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its position in Kennametal Inc. (NYSE:KMT) by 8.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 233,700 shares of the industrial products company’s stock after selling 22,800 shares during the period. Hennessy Advisors Inc.’s holdings in Kennametal were worth $7,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vise Technologies Inc. boosted its position in shares of Kennametal by 13.2% in the third quarter. Vise Technologies Inc. now owns 9,274 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 1,085 shares during the period. Summit Global Investments increased its position in Kennametal by 6.6% during the third quarter. Summit Global Investments now owns 43,601 shares of the industrial products company’s stock worth $1,340,000 after acquiring an additional 2,682 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Kennametal by 360.5% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 63,600 shares of the industrial products company’s stock worth $1,955,000 after acquiring an additional 49,788 shares during the period. Signaturefd LLC raised its stake in Kennametal by 377.7% in the 3rd quarter. Signaturefd LLC now owns 1,696 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 1,341 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Kennametal in the 3rd quarter worth about $229,000.

Insider Activity at Kennametal

In other Kennametal news, VP Judith L. Bacchus sold 9,676 shares of Kennametal stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $30.29, for a total transaction of $293,086.04. Following the completion of the transaction, the vice president owned 15,721 shares in the company, valued at approximately $476,189.09. The trade was a 38.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Chowbey purchased 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average price of $29.10 per share, with a total value of $203,700.00. Following the acquisition, the chief executive officer directly owned 246,839 shares of the company’s stock, valued at $7,183,014.90. This represents a 2.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.65% of the stock is currently owned by corporate insiders.

Kennametal Stock Up 0.1%

NYSE:KMT opened at $29.14 on Monday. Kennametal Inc. has a one year low of $21.70 and a one year high of $43.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.62 and a quick ratio of 0.98. The company has a market cap of $2.23 billion, a PE ratio of 6.62, a P/E/G ratio of 0.28 and a beta of 1.33. The firm’s 50 day simple moving average is $30.40 and its 200 day simple moving average is $34.59.

Kennametal (NYSE:KMT) last released its 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. Kennametal had a net margin of 14.53% and a return on equity of 24.83%. The business had revenue of $736.61 million during the quarter, compared to the consensus estimate of $725.74 million. During the same quarter in the prior year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 42.6% compared to the same quarter last year. Kennametal has set its Q1 2027 guidance at 2.500-2.800 EPS and its FY 2027 guidance at 4.150-5.150 EPS. On average, research analysts anticipate that Kennametal Inc. will post 4.92 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 9th. Kennametal’s dividend payout ratio is 18.18%.

Analyst Upgrades and Downgrades

KMT has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Kennametal from $34.00 to $30.00 and set an “underweight” rating on the stock in a research report on Thursday, October 8th. Weiss Ratings cut Kennametal from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Morgan Stanley downgraded Kennametal from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $31.00 to $27.00 in a research report on Monday, August 10th. DA Davidson cut their target price on Kennametal from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Finally, Zacks Research lowered Kennametal from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Five analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Kennametal currently has a consensus rating of “Reduce” and a consensus target price of $33.50.

Kennametal Profile

Kennametal Inc (NYSE: KMT) is a global industrial technology company that develops and manufactures tooling, engineered components and wear-resistant solutions. Its products are designed to help customers improve productivity, durability and performance in demanding manufacturing and industrial applications.

The company’s offerings include metal-cutting tools and systems, tooling components, advanced materials, and products made with hard metals and other wear-resistant technologies. Kennametal also provides engineered solutions for applications such as machining, earthworks, energy production, transportation, aerospace, defense and general engineering.

Founded in 1938 by Philip M.